Global cocoa stock prices hit record highs again

Exchange prices for cocoa beans have risen to a historical maximum, according to data from the Intercontinental Commodity Exchange (ICE). Futures for cocoa bean deliveries in March rose by 3.85% to $12,218 per tonne during trading on December 18 by 14:49. The rapid growth in cocoa bean prices began back in 2023. It peaked in the spring of 2024, when prices reached the previous historical maximum of $12,035. After that, prices began to decline. But over the past month, they have started to rise again and have risen by 43.2% at once. In general, since the beginning of the year, prices have increased by 2.9 times. Cocoa prices are rising due to fears of a product shortage. Over the past two years, the world's leading cocoa producers — Ivory Coast, Ghana, Nigeria and Cameroon, which together account for 75% of the global market — have been hit by drought, reducing their cocoa bean harvests. While cocoa bean supplies have increased in the 2024-25 season (which began on October 1), ...