Soft commodities · CC

Cocoa price

US$3,817 / tonne
≈ €3,246 ≈ £2,845 Unchanged 24h 36% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Cocoa (CC) price today US$3,817 / tonne, ↑ +0.00% (24h)

Cocoa chart

Interactive chart and 30-day overview

7 days
▼ −4.63%
−US$185.25
30 days
▲ +10.85%
+US$373.72
1 year
▼ −61.11%
−US$5,999
52-week range
US$0.9100 36% US$10,516
Cocoa (CC) 30-day price chart — USD, EUR, GBP

The Cocoa chart shows how the cocoa price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

What moves the price of cocoa?

A structural feature of the cocoa market is West African supply concentration. Côte d’Ivoire, with about 2.0 million tonnes a year, accounts for roughly 40% of global output. Ghana, with about 0.7 million tonnes a year, adds another 15%. Together, the two countries produce around 55% of the world’s cocoa beans. Global production is around 4.5 million tonnes a year, according to the International Cocoa Organization (ICCO). Most of the remaining supply comes from Ecuador (~0.4 Mt), Indonesia (~0.2 Mt), Nigeria and Cameroon. The concentration risk is compounded by ageing trees, with many farms still using older hybrids. Cocoa swollen shoot virus disease (CSSVD) has made tens of thousands of hectares in Ghana and Côte d’Ivoire persistently uneconomic. Younger farmers are also less willing to take over family plantations.

The main source of short-term price volatility is weather in West Africa’s cocoa belt. The main crop, harvested from November to March, is shaped by the December-February Harmattan wind. Dry, dusty air from the Sahara can reduce bean moisture and increase pod loss during a critical stage of pod development. For the summer-autumn mid-crop, the volume and distribution of the rainy season from June to September are decisive. Too much rain can spread black pod disease, a Phytophthora rot; too little rain weakens flowering. El Niño-Southern Oscillation (ENSO) cycles directly affect rainfall patterns around the Gulf of Guinea, so ICE Futures US cocoa prices are seasonally sensitive to forecasts from the NOAA Climate Prediction Center.

The demand and processing side is also unusually concentrated. About 60% of global cocoa-processing capacity is controlled by three companies: Cargill, Barry Callebaut and Olam Food Ingredients. They grind beans into cocoa liquor, cocoa butter and cocoa powder, which are then sold to chocolate makers. End demand is similarly concentrated. Three global chocolate groups — Mars, Mondelez (Cadbury, Milka, Toblerone) and Nestlé (KitKat, Smarties) — account for a large share of market turnover, while Hershey is a major player in North America. That means a few large hedging purchases or sales on the ICE contract can move prices materially. Processing, or grindings, data from the European Cocoa Association and the National Confectioners Association are closely watched market indicators.

How to invest in cocoa

Owning physical cocoa beans is not practical for retail investors. Beans are hygroscopic, vulnerable to mould and insects, require climate-controlled storage, and the market is mainly business-to-business, driven by confectionery procurement. A European retail investor typically gets cocoa exposure in three ways: cocoa CFDs that track the ICE Futures US Cocoa (CC) price; a thematic ETN, the best-known being the iPath Bloomberg Cocoa Subindex ETN — ticker: NIB; or individual shares in chocolate makers and cocoa processors, such as Mondelez International — MDLZ, Hershey — HSY, Barry Callebaut — BARN.SW and Nestlé — NESN.SW. Two regulated brokers where these instruments are available include:

30-day price history

Chart and daily closing prices

Cocoa (CC) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
23 May 2026 US$3,817 €3,246 £2,845 ▲ +0.41%
22 May 2026 US$3,801 €3,233 £2,833 ▲ +1.62%
21 May 2026 US$3,741 €3,181 £2,788 ▼ −2.70%
20 May 2026 US$3,844 €3,270 £2,865 ▼ −2.25%
19 May 2026 US$3,933 €3,345 £2,931 ▲ +4.94%
18 May 2026 US$3,748 €3,187 £2,793 ▼ −6.35%
16 May 2026 US$4,002 €3,404 £2,983 ▼ −0.30%
15 May 2026 US$4,014 €3,414 £2,992 ▼ −3.88%
14 May 2026 US$4,176 €3,552 £3,112 ▼ −4.61%
13 May 2026 US$4,378 €3,723 £3,263 ▼ −4.02%
12 May 2026 US$4,561 €3,879 £3,399 ▼ −3.16%
11 May 2026 US$4,710 €4,006 £3,510 ▲ +12.62%
10 May 2026 US$4,182 €3,557 £3,117 ▲ +0.73%
6 May 2026 US$4,152 €3,531 £3,094 ▲ +1.41%
5 May 2026 US$4,094 €3,482 £3,051 ▲ +6.07%
4 May 2026 US$3,860 €3,282 £2,877 ▲ +7.33%
2 May 2026 US$3,596 €3,058 £2,680 ▲ +0.36%
1 May 2026 US$3,583 €3,047 £2,671 ▲ +0.20%
30 Apr 2026 US$3,576 €3,041 £2,665 ▲ +6.30%
29 Apr 2026 US$3,364 €2,861 £2,507 ▲ +2.07%
28 Apr 2026 US$3,296 €2,803 £2,457 ▼ −0.31%
27 Apr 2026 US$3,306 €2,812 £2,464 ▼ −3.64%
25 Apr 2026 US$3,431 €2,918 £2,557 ▼ −0.35%
22 Apr 2026 US$3,443 €2,928 £2,566 ▲ +2.94%
21 Apr 2026 US$3,345 €2,845 £2,493 ▲ +0.63%
20 Apr 2026 US$3,324 €2,827 £2,477 —

Cocoa FAQ

Why is cocoa priced by the tonne? +
Cocoa beans are an industrial agricultural commodity. Trading units are based on bulk procurement by confectionery companies and processors, so the standard unit is the tonne (T). The New York ICE Futures US Cocoa contract, ticker CC, has a contract size of 10 tonnes and is quoted in USD per tonne. The London ICE Futures Europe contract, ticker C, also has a 10-tonne contract size and is quoted in GBP per tonne. In physical procurement, cocoa beans and processed cocoa powder are commonly priced in local-currency per tonne terms.
What is the difference between ICE Futures US Cocoa (CC) and ICE Futures Europe (C)? +
Both contracts trade the same physical commodity — fermented, dried cocoa beans — but they play different market roles. The New York CC contract is the deeper and more liquid market, quoted in USD per tonne. It is the main reference point for global cocoa pricing, and most arbitrage and hedging flows go through it. The London C contract is quoted in GBP per tonne and has historically been preferred by British trading houses and continental European processors, including Cargill and Barry Callebaut in Antwerp. A normal spread exists between the two prices, driven by the GBP/USD exchange rate, physical delivery costs and regional supply-demand differences.
Why do Côte d’Ivoire and Ghana dominate the cocoa market? +
West Africa received the cocoa plant from South America during the colonial period. The climate around the Gulf of Guinea — warm tropical weather with high and relatively even rainfall — is well suited to cocoa. Côte d’Ivoire, with about 2.0 million tonnes a year, supplies ~40% of global production. Ghana, with about 0.7 million tonnes a year, adds another ~15%. Cocoa exports are a major pillar of government revenue and rural employment in both countries. In Côte d’Ivoire, the Conseil du Café-Cacao regulates farmgate prices and forward sales; in Ghana, that role is held by Cocobod.
What is the Living Income Differential (LID)? +
The Living Income Differential is a minimum farmgate price premium introduced jointly by Côte d’Ivoire and Ghana to raise incomes for cocoa-producing households. The LID is a fixed USD 400 per tonne premium over the ICE Futures US Cocoa world price and is applied by the two countries to all export contracts. A separate country differential depends on the quality and supply conditions of the season. The aim is to direct more of the cocoa price to farmers and slow the abandonment of cocoa plantations. It also raises raw-material costs for processors, which can feed into consumer chocolate prices over time.
What is cocoa swollen shoot virus disease (CSSVD)? +
Cocoa swollen shoot virus disease (CSSVD) is a viral disease of the cocoa plant, spread by mealybugs. There is no chemical cure: infected trees must be cut down and burned. The virus has made tens of thousands of hectares of cocoa area in Ghana and Côte d’Ivoire persistently uneconomic, in some places halving yields per hectare. The control method is a cutting out programme: the infected plantation is fully cleared, the land is left fallow for several years, and then replanted with virus-resistant hybrids, such as varieties developed by the Mars Center for Cocoa Science or CRIG genotypes in Ghana. The process means 5–7 years of lost productive yield, contributing to structural tightness in global supply.
How many cocoa beans are needed for a chocolate bar? +
It depends on the type of chocolate. 1 kilogram of dark chocolate, with cocoa content above 70%, typically contains 700–900 grams of cocoa-bean equivalent, including cocoa liquor and additional cocoa butter. 1 kilogram of milk chocolate, usually with 25–35% cocoa content, requires only 100–200 grams of cocoa-bean equivalent; the rest is sugar, milk powder and cocoa butter. “White chocolate” contains cocoa butter but no cocoa liquor. That is why the consumer price of high-cocoa dark chocolate is more sensitive to the global cocoa price, while milk chocolate prices are more influenced by milk, sugar and brand margins.
Who are the largest cocoa processors and chocolate makers? +
About ~60% of global cocoa-processing capacity is controlled by three companies: Cargill, the US agricultural group with cocoa plants in the Netherlands, Germany and Côte d’Ivoire; Barry Callebaut, the Swiss-Belgian group and the world’s largest dedicated cocoa and chocolate processor, listed on SIX under BARN.SW; and Olam Food Ingredients, part of a Singapore-based group. The branded chocolate market is led by Mars (M&M’s, Snickers, Twix; privately held), Mondelez (Cadbury, Milka, Toblerone, Oreo; ticker: MDLZ), Nestlé (KitKat, Smarties; ticker: NESN.SW) and Hershey (Hershey’s, Reese’s; ticker: HSY).
How can a European retail investor access the cocoa market? +
There are three common routes for a European retail investor. First: cocoa CFDs, which track the ICE Futures US Cocoa (CC) price directly and allow both long and short positions. These are leveraged products and are available through XTB and eToro. Second: the iPath Bloomberg Cocoa Subindex ETN (NIB), which passively tracks the return of the Bloomberg cocoa subindex and trades like an exchange-listed security. Third: individual shares in the cocoa value chain, including cocoa processors such as Barry Callebaut (BARN.SW) and chocolate makers such as Mondelez (MDLZ), Hershey (HSY) and Nestlé (NESN.SW). Tax treatment varies by jurisdiction; consult a local tax adviser.

More soft commodities

Arabica coffee
US$2.68
pound
Sugar (US)
US$14.68
pound
Cotton
US$0.7800
pound
Rubber
US$2.21
kg
Data sources: ICE Futures US — Cocoa (CC) contract specification · International Cocoa Organization (ICCO) — Quarterly Bulletin of Cocoa Statistics · USDA Foreign Agricultural Service — Cocoa · Conseil du Café-Cacao — Côte d’Ivoire cocoa regulator