Cocoa Market Report for December 2024
Abidjan, 20 January 2025 – The International Cocoa Organization releases the Cocoa Market Report for December 2024. The current report highlights the following insights:
- Cocoa futures finished December 2024 on a strong increase with the nearby contract for the last trading day of the year at US$11,441 per tonne and US$11,545 per tonne in London and New York respectively. Weather conditions including hot temperatures, La Nina and harmattan in major cocoa producing countries could have a negative toll on the 2024/25 global supplies of cocoa beans. Consequently, prices have remained high.
- Published regional cocoa associations grindings data for the Q4.2024 quarter were lower year-on-year – an indicator that cocoa demand is plummeting. The significant rise in cocoa prices will inevitably affect demand. Until current market fundamentals show signs of improving production, cocoa prices may continue to be high. However, should demand continue its downtrend, then the market may head towards an equilibrium.
Caution should be exercised in the interpretation of the following steps as they are just guidelines.
You can download the complete report by clicking here.
