Cocoa prices rose in April. Prices averaged USD 2,823 per metric ton in April, which was 5.8% higher than March’s price and was up 14.8% from the same month last year. Additionally, the spot price was USD 2,846 per metric ton on 28 April, which was up 2.2% from the same day of the previous month.
In April, supply concerns and robust demand supported cocoa prices. Shipments from key exporter Côte d’Ivoire were down 5% year on year in October 2022–April 2023. Fears over the quality of West African output due to crop disease, drought, andfertilizer and pesticide shortages further supported prices. On the demand side, higher global cocoa grindings in Q1 were also a bullish factor.
This chart displays Cocoa (US$/mt) from 2021 to 2023.
Cocoa ICCO (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Cocoa ICCO | - | 2,383 | 2,456 | 2,446 | 2,493 | 2,381 | 2,244 | 2,368 |