cocoa

Then, there are commodities that we don’t produce in the U.S., such as cocoa, coffee, spices, and seasonings, that are impacted by tariffs.

Wells Fargo recently reported that cocoa prices have more than doubled since the beginning of 2024.

Meanwhile, ICE Futures will be open to trade products such as cocoa and coffee, while canola contracts will be closed.

“Over the past year droughts in major coffee-producing regions like Brazil and heavier than usual rainfall and plant diseases in some cocoa producing regions in Africa have pushed up on prices,” she said.

Its agro-ecological diversity is critical for subsistence farming and staple food crops, such as avocados, cassava and maize, as well as export products like cocoa, coffee, bananas and cotton.