Cocoa has a long history going back to the Aztec civilization, when it was usually served as a drink to the court. Later, in 1828 it went through a transformation, when liquid coca butter could be pressed out of cocoa beans and then mixed with sugar to form chocolate. Cocoa trees grow well in tropical regions, especially near the equator. Because weather conditions, disease and insects can have a strong influence on cocoa, prices are subject to sudden moves, thus cocoa futures are very important for market participants, hedgers.
|CONTRACT SIZE||10 tons|
|EXCHANGE||InterContinental Exchange (ICE)|
|PRICE QUOTE||USD price of 1 ton|