For the first time in history, the price of cocoa beans in the global market exceeded 12 thousand dollars per ton

According to EastFruit, the price of cocoa beans has reached a historic high due to concerns about a poor harvest in Cote d'Ivoire, the largest producer of raw materials, On December 18, cocoa bean futures on the New York Mercantile Exchange rose by 3.9%, reaching $12.2 thousand per ton for the first time in history. Later, the growth slowed down, and the price fell slightly, Bloomberg reports. The main reason for the price increase is the expectation of a lower harvest in Cote d'Ivoire. The African country accounts for more than a third of the world's raw material production. According to analysts' forecasts, in the 2024-2025 season, production will amount to 1.9 million tons, which is 10% less than official estimates, which ranged from 2.1 to 2.2 million tons. Read also: Cold snap hurts Morocco's pepper production Farmers are reporting the impact of drought and high temperatures, which could reduce their harvest in the season starting next April. According to Reuters, while ...