The most expensive Valentine's Day: cocoa prices reach maximums due to the impact of the climate

New York, February 14 (EFE).- Showing your love can be expensive this Valentine's Day due to the rise in cocoa prices, at historic highs due to environmental problems in Ghana and the Ivory Coast, the main producers in the world. According to the CNBC network, the key product for the production of chocolate has become more expensive by 40% since the beginning of the year in the United States. Last Friday, cocoa futures for delivery in March in New York and London closed the session with a price of $5,888 per ton, the highest figure in their history. A year ago, the price was $2,600 per ton. In fact, chocolate prices grew by 10% in the United States, a rate three times faster than inflation. Also the prices of sugar, another key product in the production of chocolate, grew by 25% last year. The main problem is the El Niño phenomenon, which has brought much drier conditions to West Africa, where around 60% of global cocoa production is concentrated. According to the Climate.gov ...