Cocoa Prices

Cocoa prices rose over 20% by mid-June 2024 due to heavy rains in Ivory Coast and Ghana disrupting supply and exports.

Cocoa prices dropped as Nigerian exports surged 28% in May to 18,034 metric tons, increasing global supply and triggering futures sell-off.

Cocoa prices reached five-month highs on June 24 due to supply concerns from El Niño disruptions in West Africa.

Ghana and Côte d'Ivoire agreed to coordinate fixed cocoa farm-gate prices in USD starting 2026/2027 to protect farmers from market volatility.

Ghana’s COCOBOD delayed its $1.3bn syndicated loan for 2024/25 due to expected cocoa output decline and rising global cocoa prices.

Ghana Cocoa Board signed a $1.5B deal with US firms to finance cocoa purchases amid $12,000/ton global prices under AfCFTA protocols.