Cocoa Price: Latest Price - Chart for Cocoa
Cocoa beans - Daily Price - Commodity Prices, Cocoa Market Statistics
Cocoa trading market
There are 3 main species of the cocoa plant form when the cocoa bean is harvested: Trinitario, Criollo and Forastero. The Forastero plant is a thick skinned robust plant that is the most popular variety of the three. The Criollo plant is highly sensitive to climate changes and the slightest alteration weather will affect its yield. Trinitario, is a combination of the two it’s popular for the delicate flower of the Criollo combined with the full-bodied nature of the Forastero. The two main cocoa exchanges are the Intercontinental Exchange (ICE) and NYSE Liffe (part of the NYSE: Euronext group).
What influences cocoa prices
Climate would be the main factor that influences the production of the cocoa plant, which in turn will impact the cocoa price whether directly to the consumer or on the cocoa futures price and commodity trading markets. Drought and soil erosion will decrease farming yields as well as exposure to black pod disease.
The increase in demand of chocolate worldwide can increase prices, labour standards or any changes in this area of cultivation will impact the cocoa price. Production costs are relatively low however technology is ever-changing and can become a factor to be considered in the near future
The top countries that produce and export cocoa beans are Ivory Coast that supplies over 30% of the world’s total cocoa, leading with more than 1,448,998 metric tons annually. Second is Ghana, with 835,466 that are grown in the West African country, and thirdly on the global metric of cocoa production is Indonesia with over 777,5000 metric tons produced annually.
Once cocoa beans have been garnered, fermented, dried and transported they are processed in to various components for commercial consumption in various industries such as soaps, cosmetics and confectionary. Country with the highest cocoa consumption globally is the Netherlands handling 13% of global grindings. Europe as a whole consumes 40% of the markets with a remaining 60% that is equally divided between Asia, the Americas and Africa
Understanding cocoa trading
In this example the trader opens a long position of 10 units of 1 metric ton each at the market price of $2027. After a while the price reaches the level of $2039,5 and the trader closes the position. Value derived from this contract can be calculated by multiplying the position size by the price difference: 10 metric tons x (2039.5-2027) $/ton = $125
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1. Open an account
To trade on oil prices with Plus500, you’ll need to open an account. It takes a matter of minutes, can be done entirely online, and there’s no obligation to fund once you’ve finished your application.
However, you will need to fund before you place your first trade. Funding a CFD trading account is simple – you can use your debit or credit card
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2. Find your first opportunity
- You can use your Plus500 account to trade Brent Crude and WTI (Called US Light Crude on the platform), as well as Heating Oil, Natural Gas and No Lead Gasoline. And you can access a variety of tools to help you identify the right time to open your first position, including:
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- Find out more about the Plus500 Trading platform.
3. Open your position
Once you’ve decided the market you want to trade, you can open your position on Plus500 web platform, or one of our mobile trading apps.
Open the deal ticket to place your trade. First of all you’ll enter your stake, which dictates the profit or loss you’ll make when the market moves. You can also choose to add a stop or a limit here, which will automatically close your position once it hits a certain level.
Bear in mind, though, that a basic stop loss does not guarantee your position will close at the exact level you specify – if the market suddenly gaps beyond your stop level, it’s possible your position will be closed at a worse level than requested.
If you think oil is going up in value, then ‘buy’ your chosen market. If you think it’s headed down, then ‘sell’ it.
4. Monitor and close your position
Now your trade is open, you’ll want to keep a close eye on it – or use the appropriate monitoring tools – and decide when the right time is to either cut your losses or take your profits. You can also add, remove or amend any stops or limits once your position is open.
To close a trade, you just click on your position and trade in the opposite direction to when you opened it. So if you bought oil, then you’d sell it. If you’d sold oil, then you buy it.
Your profit or loss is determined by deducting the price at which you opened the position from the price at which you closed it, and multiplying the result by your position size. If you bought the market at the outset, then a positive figure indicates a profit and negative one a loss. If you sold it, then it's the opposite.
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Plus500 offers CFD trading in Forex, stock indices, individual equities, commodities, cryptocurrencies, ETFs and options. Plus500 was the first broker to introduce a Bitcoin CFD (2013). The company does not charge commissions on any of its trades. All costs are contained within the spread for each of more than 2,000 trading instruments offered on Plus500's WebTrader platform. Large volume traders do not get a trading discount at Plus500. The spread is the same whether you trade one lot or one thousand lots. There are no charges for normal withdrawals or terminating an account. Inactivity fees kick in after an account has been idle for three months. Beginning traders can open an account with as little as GBP 100.
WebTrader is simple and easy to use and the layouts will feel familiar. Traders can choose from among more than 2,000 instruments, analyze their selection on a customizable technical analysis chart and place their trade in just a few clicks, all within the same window. Traders can also set price-based alerts on instruments they are following, and WebTrader will notify them via email or SMS text once the price objective has been reached.
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Plus500 has been in the CFD business since 2008. They are registered in the UK and licensed by the Financial Conduct Authority (FRN 509902). The company offers CFD trading in Forex, stock indices, individual equities, commodities, cryptocurrencies, ETFs and options. Plus500 was the first broker to introduce a Bitcoin CFD (2013). The company does not charge commissions on any of its trades. All costs are contained within the spread for each of more than 2,000 trading instruments offered on Plus500's WebTrader platform. Plus500 Ltd. (PLUS.L) is a publicly traded company on the AIM section of the London Stock Exchange (since 2013) with a GBP 1.01 billion market capitalization and clients in more than 50 countries around the world.
Up to 80.6% of retail investor accounts lose money when trading CFDs with Plus500. You should take into account whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs, regardless of provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.