Cocoa bean prices reach all-time high in Russia

Published 2024년 12월 18일

Tridge summary

A ton of cocoa beans has been sold at a new high price on electronic exchange trading, priced at $12,987, marking a 206% increase in price over the year. This surge in price is primarily due to a low yield of cocoa beans in Côte d'Ivoire and Ghana, which together contribute to 60% of the world's production, caused by unfavorable weather and disease. The global deficit of cocoa beans is at a record high of 500 thousand tons, leading to expectations of higher prices for chocolate and confectionery products. Manufacturers are responding by adding more additives to their products to offset the increased cost of cocoa.

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Original content

A new price maximum for cocoa beans was set on electronic exchange trading, when one ton was sold for $12,987. This was reported by the business portal FXStreet. Over the current year, cocoa bean prices have increased by 206%, he notes. The main reason for the continuing rise in price is the low harvest of cocoa beans this year in Côte d'Ivoire and Ghana, which account for 60% of the world's total production. The harvest was lost due to both unfavorable weather conditions and a massive disease of cocoa bean trees. Cocoa bean producers in African countries are also experiencing a lack of investment to renew plantations. As a result, in the current agricultural year, the global deficit of cocoa beans amounted to 500 thousand tons, which is the largest figure in the last 60 years. It is expected that the rise in stock prices will lead to a further rise in the price of chocolate, as well as a whole group of ...

Source: Kvedomosti