Cocoa prices averaged USD 6,438 per metric ton in September, down 5.2% from August. On 30 September, the commodity traded at USD 6,826 per metric ton, up 4.7% from 30 August.
Concerns over demand drove the price moderation, as elevated prices reportedly led consumers to switch from chocolate to other snacking categories. On the other hand, tight global inventories plus declining production in key exporter Cote d’Ivoire provided some support to prices.
This chart displays Cocoa (US$/mt) from 2022 to 2024.
Cocoa ICCO (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Cocoa ICCO | 2,600 | 2,954 | 3,470 | 4,011 | 5,750 | 8,657 | 6,808 | - |