News

Chocolate prices in Ukraine and the world may once again break the record

Chocolate
Published Apr 21, 2024

Tridge summary

On April 19, cocoa futures in New York soared to a new record, with the most active contract rising by 6.2% to $11,722 a tonne, amid a global supply crunch and sustained demand from chocolate factories. This increase is partly due to North American cocoa grindings, a demand indicator, which went up nearly 4% in the first quarter year-over-year, pushing futures prices up by 11%. The unexpected smaller declines in cocoa production in Europe and Asia have contributed to this surge. Despite the current high prices, the full impact on the supply chain and potential retail price hikes in various countries is yet to be seen. This peak follows a two-year rally in cocoa bean prices, reaching a level in March that was double the previous record.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cocoa futures hit a new record high in New York on Friday, April 19, as processing rates at chocolate factories persisted despite a global supply crunch and record prices. This is reported by Bloomberg. The most active contract rose 6.2% to an all-time high of $11,722 a tonne. Data released after the market closed showed that so-called grindings — when cocoa is turned into butter and powder used in confectionery — rose nearly 4% in North America during the first quarter compared to the same period last year. That added to the gains, with futures up 11% on smaller-than-expected declines in cocoa production in Europe and Asia. Most of the beans ground in the first quarter were likely from existing stocks and purchased at lower prices, so the recent "super run" in futures is not yet reflected in the supply chain. According to experts, it will soon be possible to feel the effects of the main increase in prices for cocoa beans on the stock ...
Source: Agropolit
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