Cocoa Prices

Cocoa prices averaged USD 7,297 per metric ton in March, up 29.5% from February. On 29 March, the commodity traded at USD 9,465 per metric ton, up 59.6% from 29 February.

Cocoa prices skyrocketed to a new all-time high in March on persisting supply woes. Lower production from key exporter Côte d’Ivoire and Ghana’s deteriorating output outlook drove the rally. Meanwhile, demand likely took a hit on the price surge and capped any further rise.