The one formula to remember
Cents per pound × 22.0462 = dollars per tonne.
Why 22.0462? A tonne holds 2,204.62 pounds. And a cent is a hundredth of a dollar. So 2,204.62 ÷ 100 = 22.0462.
Example: arabica at 350 cents per pound.
- 350 cents = 3.50 dollars per pound.
- 3.50 × 2,204.62 = 7,716 dollars per tonne.
- One 60 kg bag: 7,716 × 0.06 = 463 dollars.
- One Coffee C lot (37,500 lb): 3.50 × 37,500 = 131,250 dollars.
Four traps that cost real money
1. Cents, not dollars. “Coffee at 350” means 350 cents per pound. That is 3.50 dollars, not 350. Off by a factor of 100.
2. A ton is not a tonne. In the US, a “ton” is often 2,000 lb, about 907 kg. A metric tonne is 1,000 kg. Same word, 10% apart.
3. A bag is not a unit. Coffee statistics count 60 kg bags. Colombia ships 70 kg. Ghana prices cocoa per 64 kg gross bag. And gross is not net: the jute sack weighs too. Read the bag weight in the contract, never assume it.
4. Same cocoa, two currencies. London cocoa is in pounds sterling. New York cocoa is in dollars. Comparing them without the exchange rate of the day compares nothing.
How each market quotes its price
| Futures contract | Quoted in | One lot |
|---|---|---|
| Arabica coffee (Coffee C) · ICE Futures U.S. | US cents per lb | 37,500 lb |
| Robusta coffee · ICE Futures Europe | US dollars per tonne | 10 tonnes |
| Cocoa (New York) · ICE Futures U.S. | US dollars per tonne | 10 tonnes |
| Cocoa (London) · ICE Futures Europe | pounds sterling per tonne | 10 tonnes |
| Raw sugar (Sugar No. 11) · ICE Futures U.S. | US cents per lb | 112,000 lb |
| Cotton (Cotton No. 2) · ICE Futures U.S. | US cents per lb | 50,000 lb |
Convert quantities too
Tonnes, pounds, bags and futures lots, in one go.
| Metric tonne | 100 |
|---|---|
| Kilogram | 100,000 |
| Pound | 220,462.26 |
| Short ton (US, 2,000 lb) | 110.23 |
| Long ton (UK, 2,240 lb) | 98.42 |
| Coffee bag, 60 kg · ICO statistical standard | 1,666.67 |
| Coffee bag, 69 kg · Central America, Mexico | 1,449.28 |
| Coffee bag, 70 kg · Colombia | 1,428.57 |
| Cocoa bag, 64 kg gross · Ghana COCOBOD reference | 1,562.5 |
| Cashew bag, 80 kg · Usual RCN jute bag | 1,250 |
| Arabica coffee (Coffee C) lots · 37,500 lb | 5.88 |
| Robusta coffee lots · 10 tonnes | 10 |
| Cocoa (New York) lots · 10 tonnes | 10 |
| Raw sugar (Sugar No. 11) lots · 112,000 lb | 1.97 |
| Cotton (Cotton No. 2) lots · 50,000 lb | 4.41 |
Where Apollo comes in
In Apollo, you never convert by hand. Each contract keeps its own unit and currency, and the position is recomputed in one unit on every trade, physical and futures in the same book. Read how the position stays live.
Frequently asked questions
How do I convert cents per pound to dollars per tonne?
Multiply by 22.0462. A price of 350 cents per pound is 3.50 dollars per pound, and one tonne holds 2,204.62 pounds, so 3.50 × 2,204.62 = 7,716 dollars per tonne.
How do I convert dollars per tonne to cents per pound?
Divide by 22.0462. For example 7,716 dollars per tonne divided by 22.0462 gives 350 cents per pound.
How much does a bag of coffee weigh?
The International Coffee Organization counts in 60 kg bags. Real bags vary by origin: 70 kg in Colombia, 69 kg in much of Central America. Always check the bag weight written in the contract.
Is a ton the same as a tonne?
No. A metric tonne is 1,000 kg. A US short ton is 2,000 lb, about 907 kg. A UK long ton is 2,240 lb, about 1,016 kg. Mixing them up moves the price by about 10%.
Why is London cocoa in pounds sterling and New York cocoa in dollars?
They are two different futures contracts on two exchanges. London cocoa is quoted in pounds sterling per tonne, New York cocoa in US dollars per tonne. To compare them you need the exchange rate of the day.
Sources
- ICE contract specifications (Coffee C, Robusta, Cocoa, London Cocoa, Sugar No. 11, Cotton No. 2)
- International Coffee Organization: 60 kg bag used for coffee statistics
- COCOBOD producer prices quoted per 64 kg gross bag
Figures checked on 29 October 2026. Contract terms can change: the exchange's own page is the reference.