Cocoa Prices

Cocoa prices grew in the past month, averaging USD 2,906 per metric ton in May, which was up 2.9% from April’s price and was 22.9% higher than in the same month last year. Additionally, the spot price was USD 2,941 per metric ton on 31 May, which was 3.3% higher than on the same day of the previous month.

In May, supply fundamentals continued to drive price growth. Concerns over crop quality and yields amid unfavorable weather and the spread of disease in the largest global exporter Côte d’Ivoire were bullish for prices: The harvest beginning on 1 April is projected to be 25% smaller year on year. On the demand side, rising cocoa grindings globally further supported the price increase.