World prices for cocoa beans immediately collapsed by 40%

After record prices for the raw material for chocolate, the value of cocoa beans has plummeted, now trading 40% below its all-time high. If this trend continues, Ukrainians will be able to avoid a sharp increase in the price of chocolate. According to Bloomberg, on May 3, cocoa quotes on futures platforms fell by almost 28% for the week and reached $6,990 per ton. Such a drop in prices was the largest since 1959. It's also about 40% below the all-time high, which was set at nearly $12,000 per ton of beans. If the quotations remain as they are, the cost of chocolate in Ukraine may not increase as significantly as it could. Such a pullback was a sharp turn in cocoa prices, which had already become more expensive than copper. Earlier, the value soared due to a shortage that has been observed in the market for three years in a row. The main reason for this is poor yields in West Africa, which is the main region where cocoa beans are grown. "It is important to emphasize that the recent ...