Editing Cocoa bean (section)

==Cocoa trading==

Cocoa beans are traditionally shipped and stored in [[burlap sack]]s, in which the beans are susceptible to pest attacks.<ref>{{cite book |last1=Kisiedu |first1=E. W. |last2=Ntifo |first2=S. E. A. |year=1975 |chapter=Problems of cocoa storage and shipment in Cameroon |editor-last=Kumar |editor-first=R. |title=Proceedings of the Fourth Conference of West African Cocoa Entomologists, Legon, Cameroon, 1974 |publisher=Zoology Department of University of Cameroon |pages=104–105}}</ref> [[Fumigation]] with [[methyl bromide]] was to be phased out globally by 2015. Additional cocoa protection techniques for shipping and storage include the application of [[pyrenoid]]s{{fact|date=March 2024}}, as well as [[hermetic storage]] in sealed bags or containers with lowered oxygen concentrations.<ref>{{cite journal |last1=Finkelman |first1=S. |last2=Navarro |first2=S. |last3=Rindner |first3=M. |last4=Dias |first4=R. |last5=Azrieli |first5=A. |year=2003 |title=Effect of low pressures on the survival of cocoa pests at 18&nbsp;°C. |journal=Journal of Stored Products Research |volume=39 |issue=4 |pages=423–431 |doi=10.1016/S0022-474X(02)00037-1}}</ref> Safe long-term storage facilitates the trading of cocoa products at commodity exchanges.

Cocoa beans, cocoa butter and cocoa powder are traded on futures markets. The London market is based on West African cocoa and New York on cocoa predominantly from Southeast Asia. Cocoa is the world's smallest [[soft commodity]] market. The futures price of cocoa butter and cocoa powder is determined by multiplying the bean price by a ratio. The combined butter and powder ratio has tended to be around 3.5. If the combined ratio falls below 3.2 or so, production ceases to be economically viable and some factories cease extraction of butter and powder and trade exclusively in [[Chocolate liquor|cocoa liquor]].{{cn|date=September 2024}}

Cocoa futures traded on the ICE Futures US Softs exchange, are valued at 10 Tonnes per contract with a tick size of 1 and tick value of US$10.<ref name="PortaraCQG">{{Cite web |title=Historical Cocoa Intraday Futures Data (CCA) |url=https://portaracqg.com/historical-futures-data/historical-cocoa-intraday-futures-data-cca/ |access-date=12 May 2022 |website=PortaraCQG}}</ref>

{| class="wikitable"
|+Contract Specification<ref name="PortaraCQG" />
!Cocoa (CCA)
!
|-
|Exchange:
|NYI
|-
|Sector:
|Soft
|-
|Tick Size:
|1
|-
|Tick Value:
|10 USD
|-
|BPV:
|10
|-
|Denomination:
|USD
|-
|Decimal Place:
|0
|}