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Cocoa prices have fallen by more than 55 percent on international markets this year due to reduced drought concerns in West Africa and increased harvests.
The drought affecting the entire world, coupled with production difficulties and geopolitical developments, is causing fluctuations in the prices of agricultural products. Cocoa has been among the commodities experiencing the most significant volatility in the commodity market.
According to data from the Intercontinental Exchange, a commodity exchange operating in the US, the tonne price of cocoa hit a record high of 12,931 dollars last year amid supply concerns but ended the year at 11,675 dollars. A ‘rally’ in prices was seen due to adverse weather conditions threatening crops in West Africa and a decline in global stocks.
Cocoa prices have fallen from these levels due to easing drought concerns in West Africa and an uptick in harvests. The price per tonne of cocoa has fallen by more than 55 percent since the end of 2024, dropping to around 5,160 dollars.
Weakening demand for chocolate and cocoa is expected…
Meanwhile, Barry Callebaut, one of the world’s leading chocolate and cocoa producers, expects a decline in cocoa product sales. The announcement of the US plan to remove tariffs on cocoa products also contributed to the sales pressure on cocoa.
Rabobank Commodity Analyst Oran van Dort noted that US President Donald Trump has exempted certain agricultural products that the US consumes in large quantities but cannot produce itself from tariffs and that cocoa is among these products.
