Why Have Cocoa Prices Recovered?

Written on 08/04/2026
Andrew Hecht

After a parabolic rally that took cocoa to an all-time high in late 2024, prices corrected, falling by 78%. ICE cocoa futures reached a bottom in March 2026, and prices have more than doubled at the most recent July 2026 high.Bar of chocolate by Karandaev via iStock