What is International Cocoa Organization daily price?

International Cocoa Organization daily price, average of the first three positions on the terminal markets of New York and London, nearest three future trading months. View and export this data back to 1960. Upgrade now. Cocoa Price is at a current level of 2.748, up from 2.653 last month and up from 2.459 one year ago.

Why are cocoa prices so high?

Higher prices can be helpful for struggling cocoa farmers. But those prices, along with high prices of other key chocolate ingredients, might not be great news for sweets shoppers watching their budgets. So far this year, cocoa futures have risen about 21%. As is often the case, higher prices are being driven by demand exceeding supply.

What are cocoa futures?

Cocoa futures are used to determine the prices paid to farmers for cocoa in Ivory Coast and Ghana.

Why did the ICCO reshape the global cocoa market?

Moreover, the International Cocoa Organization (ICCO) bumped its global deficit forecast by over 100% to 142,000 metric tonnes. Markets also responded to the emergence of the El Niño weather pattern in June, which has previously been damaging to production in West Africa—where over 60% of world cocoa is produced.