World: An increase in cocoa prices does not necessarily mean more expensive sweets, but a lower content in products

October 30 this year cocoa futures on the London Stock Exchange reached a value of approximately 3,387 British pounds per tonne, which means an annual increase of approximately 79%. In mid-September this year. cocoa prices were GBP 3,121/t, an increase of approx. 75%. compared to the same period last year Jakub Jakubczak said that the recent increase in cocoa prices is mainly due to production problems at the world's largest producers of the raw material: Côte d'Ivoire and Ghana, which are responsible for almost 3/4 of the raw material's supply. "The production estimates in these countries published in early October suggest a decline of 20-30% in the upcoming 2023/24 season," he noted. The main reason is said to be dry and warm weather during the grain growing season this year. According to the expert, it is currently difficult to forecast cocoa price levels in the long term. I do not believe that contract prices take into account the potential decline in the quality of the seed ...