Cocoa prices eased on June 10 as forecasts of dry weather in West Africa alleviated immediate flood concerns, but support from El Niño risks and weak crop surveys limited losses. Short-term selling pressure visible amid medium-term support.
Cocoa prices surged to multi-year highs following consecutive poor harvests in Côte d'Ivoire and Ghana, and remained at more than twice pre-crisis levels as of August 2026. High prices are driving food manufacturers to explore cocoa alternatives such as carob, fava beans, and sunflower seeds, though reformulation remains technically challenging.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Cocoa | China | FOB | USD 5,176.32/MT | August 2026 |
| Cocoa | India | FOB | USD 1,723.17/MT | August 2026 |
| Cocoa | USA | FOB | USD 5,815.08/MT | August 2026 |
| Cocoa | UK | FOB | USD 5,758.70/MT | August 2026 |
| Cocoa | Canada | FOB | USD 5,891.67/MT | August 2026 |
| Cocoa | China | FOB | USD 4,851.28/MT | July 2026 |
| Cocoa | India | FOB | USD 1,816.36/MT | July 2026 |
| Cocoa | USA | FOB | USD 5,470.44/MT | July 2026 |
| Cocoa | UK | FOB | USD 5,386.99/MT | July 2026 |
| Cocoa | Canada | FOB | USD 5,501.09/MT | July 2026 |
Stay updated with the latest Cocoa prices, historical data, and tailored regional analysis
In July 2026, Cocoa prices were USD 5,470.44/MT FOB in the USA, USD 5,386.99/MT FOB in the UK, and USD 5,501.09/MT FOB in Canada. The market strengthened during Q3 as concerns over West African production, adverse weather, disease, and the potential impact of El Niño increased attention on the upcoming crop. Ghana’s cocoa regulator warned of a weaker 2026/27 harvest, while concerns also emerged over Côte d’Ivoire, shifting market focus from current availability toward future supply. The ICCO reported that 2024/25 world gross production reached 4.733 million tonnes, while grindings stood at 4.649 million tonnes, leaving a 37,000-tonne global surplus and end-season stocks of 1.309 million tonnes. Global exports of cocoa beans and semi-finished products reached 2.09 million tonnes during January–March 2026, down 2.8% year on year, indicating softer trade flows. Downstream chocolate and cocoa processing demand remained an important counterweight, particularly as high raw-material costs encouraged cautious procurement.
Analyst Insight
According to Procurement Resource, in the near term, cocoa prices are likely to remain highly sensitive to West African crop conditions, weather developments, disease risks, and updated supply estimates.
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In the UK, cocoa prices rose from about GBP 2.49/kg to roughly GBP 3.09/kg, respectively, in the first two months of Q2’26. Market sentiment was influenced by concerns over producer-country supply quality, timing, and weather-related risks. ICCO’s May 2026 bulletin revised the 2024/25 cocoa balance to a surplus, with production estimated at 4.723 million tonnes and grindings at 4.628 million tonnes, easing some supply pressure. Côte d’Ivoire’s outlook improved, with 2025/26 production projected at 2.0–2.1 million tonnes and arrivals exceeding 1.7 million tonnes by mid-May, yet regional farmers faced weaker pod survival and reduced flowering amid the weather disruptions. However, in Ghana, heavy rains disrupted flowering and heightened black pod disease risks across key regions, adding to uncertainty. Overall, although there were improvements on the supply side, weather problems and issues with the quality of crops kept affecting prices.
Cocoa, derived from the seeds of the Theobroma cacao tree, is a crucial agricultural commodity primarily used in the production of chocolate. The seeds, known as cocoa beans, undergo a meticulous process of fermentation, drying, roasting, and grinding to produce cocoa mass, cocoa butter, and cocoa powder.
Cocoa butter is valued for its rich, creamy texture and is also widely used in cosmetic products. The powder serves as a key ingredient in various food products due to its rich flavor and antioxidant properties. Native to the Amazon and Orinoco River basins, cocoa plays a significant role in global economies, especially in West Africa, which dominates global production.
Cacao, Cocoa bean, Chocolate bean
Chocolate Production, Baking and Confectionery,Beverages, Cosmetics, Pharmaceuticals, Nutraceuticals
Cargill Incorporated, Cocoa Processing Company Limited (CPC), ECOM Agroindustrial Corp. Limited, PRONATEC AG, Blommer Chocolate Company, Tradin Organic Agriculture B.V.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Cocoa is a natural product obtained from cocoa trees (obtained from cocoa bean that serves as its primary feedstock. Cocoa beans are first cleaned and roasted to develop flavor. The beans are then cracked, and shells are removed to obtain cocoa nibs. These nibs are ground into cocoa liquor. Cocoa butter is extracted from the liquor, leaving cocoa powder, both used in chocolate manufacturing.
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This report provides the cost structure of cocoa butter production from the grinding and pressing methods. When the nibs extracted from cocoa beans are grounded, it produces chocolate liquor.
This report provides the cost structure of white chocolate production from cocoa butter. Cocoa butter is separated from the whole cocoa mass to make a press cake of cocoa beans.
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