Cocoa London Prices

30-09-2026 - Over the past month, the price of cocoa in London has seen a significant decline, falling from £4859 per tonne to £4204 per tonne. This drop indicates a downward trend in the raw material market, possibly due to changes in supply or demand dynamics. The forecast anticipates a further decrease in cocoa prices to £3968 per tonne, representing a -5.6% change from the current £4204 per tonne. This suggests a continued downward trend, with potential market volatility impacting raw material prices.

The current forecast presents mixed signals. Technical data indicates a significant negative impact of -£130 per tonne, suggesting downward pressure driven by Trend Following. However, data on Flows and Supply points to upward pressure, indicating a lack of consensus on raw material price trends.

In contrast, the International Cocoa Organization (ICCO) reported in October 2023 that cocoa futures prices have experienced significant rallies. The nearby contract in London averaged US$3,844 per tonne, while in New York, it averaged US$3,604 per tonne. These increases are attributed to consecutive years of supply deficits and expectations of another deficit due to adverse weather conditions affecting bean quality and accessibility. This suggests a market trend toward higher prices, which contrasts with the forecast of a price decrease to £3968 per tonne in the coming month.