Cocoa prices averaged USD 7,365 per metric ton in July, down 12.5% from June. On 31 July, the commodity traded at USD 7,397 per metric ton, down 8.7% from 30 June.
Cocoa prices fell at the sharpest pace since November 2022 in July, as global demand weakened and markets speculated that cocoa would be exempt from U.S. tariffs. Moreover, Ghana, the world’s second-largest producer, expects a stronger harvest in 2025/26, alleviating supply concerns.
This chart displays Cocoa (US$/mt) from 2023 to 2025.
Cocoa ICCO (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cocoa ICCO | - | - | 3,470 | 4,011 | 5,750 | 8,657 | 6,803 | 8,285 | 9,558 | 8,521 | - | - |