Cocoa

Behind every chocolate bar is cocoa, and few commodities are as geographically concentrated. More than half of the world's supply grows in just two West African countries, Ivory Coast and Ghana, on small farms with aging trees, which leaves the market acutely exposed to the weather, disease and politics of that one region. When crops fail there, as poor harvests and plant disease have shown, prices can spike violently, since demand for chocolate is steady while supply cannot respond quickly. The beans are traded as futures on the Intercontinental Exchange, quoted in dollars per tonne, and that contract is the global benchmark. Beyond the harvest, cocoa's price reflects the long lead time of cacao trees, which take years to mature, and the structural challenge of underinvested farms. It is a soft commodity whose swings ripple straight through to the cost of a chocolate bar.

On MyRWA, COCOA trades tokenized across 1 on-chain venue - see the listings below.