USA: Cocoa prices set a new record

Cocoa bean futures saw a notable increase of 5%, reaching $11,578 per ton on the New York Stock Exchange, as reported by Bloomberg. This rise is largely due to a nearly 4% increase in cocoa processing in North America for the first quarter of the year, compared to the same period last year. Despite this growth, the article highlights contrasting trends in cocoa processing across different regions, with Europe experiencing a 2% decline and Asia facing an even more significant decrease, underscoring the diverse dynamics of the cocoa market globally.