Cocoa Prices: A Fluctuating Market

Dayo Thomas

Prominent cocoa dealers in Ondo State are worried about the fluctuating price of cocoa in recent months. As of March 6, 2026, the international cocoa price stands at around $3,230 per tonne, but the market has been experiencing significant fluctuations. The price has dropped 22.84% over the past month and 59.91% compared to the same time last year.

Favorable weather conditions in West Africa, the world’s largest cocoa-producing region, have boosted production prospects, leading to a surge in supply. Slowing global demand, particularly from Asia and Europe, has also contributed to the price decline.

Analysts predict cocoa prices may trade at $3,192.62 USD/MT by the end of this quarter and $2,704.80 in 12 months. The market is expected to remain volatile, influenced by weather patterns, geopolitical tensions, and changes in global demand.