Cocoa prices risen by 95% since March 2026, to average US$5,670 in 2026

Elevated Cocoa Prices Will Aid Nominal Exports Somewhat It continued that higher cocoa prices also increase the incentive for farmers in Ghana and Côte d’Ivoire to sell outside official channels, which could amplify export losses in both markets.

By contrast, gains will be more muted in Côte d’Ivoire and Ghana, where government-operated pricing mechanisms determine domestic cocoa prices.

Both Côte d’Ivoire and Ghana also forward sell their cocoa crop, usually three-to-six months ahead, which means there will be a lag before higher prices are reflected.