U.S. Spot Prices for Selected Origins of Cocoa Beans and Products

	----------------------------------------Cocoa beans----------------------------------------							--Chocolate liquor--		--Cocoa butter--		Cocoa cake

	Ghana 1/	Cote d'Ivoire	Brazil	Dom. Rep.	Indonesia	Ecuador	Malaysia	Ecuador	Brazil	African	Other	10-12% Fat

	Dollars per metric tons

1993/94
October		1,465	1,254	1,135	1,057	1,289	1,172	1,809	1,826	2,960	3,010	635
November		1,512	1,330	1,213	1,137	1,364	1,264	1,945	1,981	3,234	3,269	686
December		1,616	1,380	1,284	1,199	1,401	1,323	2,016	2,086	3,365	3,401	719
January		1,501	1,291	1,195	1,110	1,313	1,246	1,866	1,941	3,088	3,127	664
February		1,453	1,262	1,157	1,076	1,271	1,202	1,813	1,881	3,006	3,046	627
March		1,533	1,337	1,240	1,172	1,359	1,297	1,962	2,018	3,285	3,329	614
April		1,450	1,259	1,174	1,098	1,273	1,225	1,860	1,895	3,091	3,127	536
May		1,564	1,398	1,301	1,235	1,406	1,357	2,086	2,122	3,435	3,491	611
June		1,600	1,453	1,361	1,298	1,465	1,402	2,176	2,216	3,563	3,616	646
July		1,697	1,532	1,453	1,390	1,559	1,502	2,325	2,368	3,754	3,827	708
August		1,701	1,549	1,443	1,374	1,548	1,498	2,298	2,342	3,772	3,814	699
September		1,632	1,486	1,373	1,308	1,465	1,420	2,185	2,233	3,621	3,654	647
  Average		1,560	1,378	1,277	1,205	1,393	1,326	2,028	2,076	3,348	3,393	649

1994/95
October		1,596	1,437	1,327	1,265	1,418	1,382	2,100	2,137	3,582	3,572	585
November		1,599	1,439	1,326	1,262	1,424	1,382	2,081	2,127	3,626	3,608	565
December		1,576	1,437	1,297	1,254	1,394	1,368	2,035	2,081	3,571	3,557	523
January		1,652	1,526	1,372	1,334	1,481	1,453	2,159	2,197	3,791	3,759	566
February		1,685	1,606	1,411	1,375	1,515	1,515	2,209	2,298	3,926	3,918	585
March		1,652	1,645	1,394	1,362	1,507	1,509	2,198	2,320	3,883	3,914	599
April		1,629	1,646	1,384	1,353	1,487	1,492	2,187	2,298	3,826	3,881	576
May		1,596	1,620	1,357	1,331	1,445	1,458	2,144	2,281	3,738	3,783	577
June		1,590	1,606	1,353	1,331	1,435	1,448	2,139	2,281	3,726	3,774	577
July		1,518	1,531	1,286	1,270	1,366	1,376	2,024	2,147	3,569	3,634	527
August		1,553	1,556	1,341	1,323	1,396	1,422	2,016	2,166	3,752	3,762	526
September		1,510	1,512	1,320	1,299	1,359	1,407	1,970	2,086	3,774	3,682	514
  Average		1,596	1,547	1,347	1,313	1,436	1,434	2,105	2,202	3,730	3,737	560

1995/96
October		1,516	1,512	1,336	1,307	1,357	1,425	1,975	2,089	3,756	3,739	527
November		1,561	1,565	1,391	1,349	1,412	1,468	2,072	2,218	3,899	3,892	531
December		1,482	1,503	1,346	1,295	1,352	1,412	1,949	2,123	3,695	3,693	501
January		1,454	1,478	1,321	1,279	1,331	1,375	1,966	2,076	3,602	3,604	516
February		1,476	1,493	1,350	1,303	1,351	1,394	1,996	2,102	3,691	3,647	519
March		1,423	1,442	1,311	1,257	1,306	1,337	1,908	2,031	3,492	3,520	501
April		1,536	1,554	1,419	1,368	1,416	1,458	2,080	2,226	3,832	3,892	534
May		1,561	1,586	1,452	1,405	1,441	1,502	2,108	2,285	3,915	4,022	530
June		1,578	1,600	1,453	1,410	1,449	1,533	2,083	2,256	3,922	3,940	507
July		1,553	1,569	1,424	1,385	1,420	1,495	2,059	2,203	3,833	3,850	502
August		1,563	1,584	1,428	1,394	1,430	1,501	2,040	2,195	3,870	3,875	530
September		1,559	1,576	1,415	1,383	1,414	1,490	2,037	2,203	3,856	3,862	530
  Average		1,522	1,539	1,387	1,345	1,390	1,449	2,023	2,167	3,780	3,795	519

1996/97
October		1,580	1,582	1,425	1,391	1,445	1,498	2,061	2,242	3,909	3,912	529
November	1,592	1,547	1,548	1,396	1,365	1,407	1,448	2,023	2,205	3,837	3,832	510
December	1,612	1,561	1,567	1,407	1,379	1,413	1,453	2,040	2,212	3,883	3,889	516
January	1,564	1,518	1,526	1,379	1,350	1,391	1,419	2,004	2,131	3,777	3,790	464
February	1,493	1,451	1,463	1,322	1,289	1,330	1,351	1,869	2,043	3,570	3,599	466
March	1,630	1,596	1,596	1,466	1,435	1,462	1,471	2,097	2,254	3,979	3,973	536
April	1,668	1,632	1,646	1,507	1,469	1,516	1,549	2,176	2,305	4,058	4,030	556
May	1,660	1,621	1,637	1,496	1,459	1,500	1,538	2,150	2,290	4,020	3,985	554
June	1,778	1,739	1,753	1,620	1,578	1,630	1,667	2,300	2,449	4,281	4,286	613
July	1,779	1,741	1,755	1,625	1,581	1,637	1,670	2,369	2,441	4,257	4,262	615
August	1,761	1,726	1,738	1,603	1,566	1,626	1,641	2,332	2,417	4,185	4,177	612
September	1,893	1,862	1,875	1,735	1,707	1,775	1,766	2,530	2,671	4,513	4,518	663
  Average	1,675	1,631	1,641	1,498	1,464	1,511	1,539	2,163	2,305	4,022	4,021	553

1997/98
October	1,862	1,830	1,843	1,702	1,678	1,746	1,734	2,513	2,622	4,406	4,416	657
November	1,811	1,771	1,791	1,652	1,628	1,725	1,668	2,400	2,481	4,266	4,248	605
December	1,853	1,820	1,842	1,704	1,677	1,806	1,696	2,462	2,525	4,357	4,356	622
January	1,790	1,754	1,778	1,641	1,619	1,759	1,648	2,419	2,503	4,163	4,163	599
February	1,767	1,722	1,740	1,614	1,591	1,763	1,610	2,453	2,497	4,064	4,064	613
March	1,852	1,812	1,815	1,686	1,660	1,862	1,671	2,604	2,624	4,245	4,251	656
April	1,876	1,837	1,833	1,699	1,680	1,865	1,702	2,622	2,657	4,234	4,239	702
May
June
July
August
September
  Average	1,830	1,792	1,806	1,671	1,648	1,789	1,676	2,496	2,558	4,248	4,248	636



1/  Ghana, main crop, added with the November 1996 data.  Prior data not available.

Source:  The Cocoa Merchants' Association.  All prices are nominal and are net ex-dock or ex-warehouse, U.S. eastern seaboard north of Hatteras,
for merchandise physically available in interstate commerce, in truckload quantities, and in regular commercial quality.

June 1998									Horticultural and Tropical Products Division, FAS/USDA