The global cocoa market size was approximately USD 26.709 billion in 2023. The market is further projected to grow at a CAGR of 4.71% between 2024 and 2032 to attain a value of USD 36.426 billion by 2032. According to the International Cocoa Organisation, in the cocoa year 2021/2022, Ivory Coast accounted for 43% of the cocoa produced globally.
How did the global cocoa market perform in April?
The global cocoa market was generally bullish in April with prices of the front-month cocoa futures contract reaching a 6-year high on both the London and New York markets at US$2,831 per tonne and US$3,218 per tonne respectively.
What are cocoa prices based on?
Cocoa prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Cocoa increased 5,100.97 USD/MT or 121.57% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
