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Resilience of cocoa demand increasingly segmented, as prices climb to more than 20%

Market Report 22.05.25: The ICCO's April 2025 report reveals cocoa prices fluctuated last month due to tariffs, mid-crop uncertainties, and negative grindings data from major associations

Image: cocoaradar.com

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Cocoa trading at 10419.753 USD/T on Thursday, May 22, a 255.866 USD/T (2.4%) decrease from 10675.619 on the last trading session.

By the end of April, prices settled at US$8636/tonne in London and US$9127/tonne in New York, reflecting a 19% and 9% drop year-on-year, respectively. ​The price of cocoa fell more than 34% this year to $7,613 per ton, before recovering some of its losses. 

The ton price lost over 5% compared to the end of 2024 but climbed 24% versus April, rising as high as $11,280 this month.

Demand resilience in the global cocoa market also shows signs of strain amid sustained premium pricing and is becoming increasingly segmented. 

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