Cocoa Beans
Cocoa beans are the raw material for chocolate, cocoa butter, and cocoa powder. West Africa (Ivory Coast, Ghana) produces over 60% of the world's cocoa. Quality is determined by bean count, fermentation, moisture, and free fatty acid levels. ICE NY Cocoa and ICE London Cocoa are the benchmark contracts.
- Main Crop Grade 1
- Main Crop Grade 2
- Light Crop
- Fine/Flavor (Nacional, Criollo)
- FOB
- CIF
- CFR
Cocoa Beans, in brief.
- Common origins
- Ivory Coast
- Ghana
- Ecuador
- Cameroon
- Nigeria
- Common destinations
- Netherlands
- Germany
- United States
- Malaysia
- Belgium
- Grades and specifications
- Main Crop Grade 1
- Main Crop Grade 2
- Light Crop
- Fine/Flavor (Nacional, Criollo)
- Incoterms
- FOB
- CIF
- CFR
- Unit of measure
- Metric Tons
What moves Cocoa Beans pricing
Cocoa prices off ICE Cocoa NY (USD) and London (GBP) futures. West African crop (Ivory Coast and Ghana combined ~60% of global) is the dominant supply variable. The 2024 cocoa price spike to $11,000+/tonne (3-4× historic norms) was driven by West African disease and weather damage. Living Income Differential (LID, $400/tonne fixed surcharge) and country premiums are now part of the FOB pricing structure for Ghana and Ivory Coast.
How Cocoa Beans cargoes are priced and settled
Standard cargoes 1,000-5,000 tonnes per parcel; container shipments (25 MT) common. Pricing is futures plus origin differential plus LID where applicable. The grade differential structure (Ivory Coast Standard, Ghana Premium, Cameroon Light Brown, Ecuador CCN) is well-established and trades actively.
Cocoa Beans specifications and dispute practice
Specs cover bean count (90-100/100g for Standard), defects (slaty, mouldy, weevily), moisture (max 7.5%), and shell (max 12%). Cut-test results at arrival are the basis for most disputes. Sustainability certifications (Rainforest Alliance, UTZ, Fair Trade, Cocoa Horizons) command separate premium and have moved from optional to near-mandatory for EU buyers under EUDR.
Where Cocoa Beans comes from and where it goes
Top exporters: Ivory Coast, Ghana, Indonesia, Ecuador, Cameroon, Nigeria. Top importers: Netherlands (Amsterdam grindings hub), US, Germany, Belgium, Malaysia, Indonesia (which both grinds and re-exports). EU Deforestation Regulation (EUDR) compliance is reshaping supply-chain documentation requirements.
Who trades Cocoa Beans?
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Related market pages.
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- SoybeansSoybeans are the world's most important oilseed, crushed to produce soybean meal (animal feed) and soybean oil (cooking, biodiesel). Brazil has overtaken the US as the largest exporter. GMO vs. non-GMO origin commands significant price differentials in European and Asian markets.
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