Cocoa breaks new records in the US: Prices have crossed the 11,000 dollar mark

Published 2024년 4월 19일

Tridge summary

Cocoa futures have soared to a record high in New York, with the price for the most active contract jumping 5% to $11,578 per metric ton, driven by global supply shortages and robust demand. This significant increase, which has seen cocoa futures more than double since the beginning of 2024, is pushing up chocolate prices and fueling concerns about food inflation worldwide. Despite the spike in cocoa prices, chocolate factories have maintained steady processing rates, with a nearly 4% rise in North America during the first quarter, indicating sustained demand amidst rising costs.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cocoa futures hit a new all-time high in New York as processing rates at chocolate factories persist despite global supply shortages and strong prices. This is reported by the Bloomberg agency. The most active contract rose 5% to hit an all-time high of $11,578 a metric ton in early trade on Friday. Data released Thursday after the market closed showed cocoa nibs -- made into butter and powder used in confectionery -- rose nearly 4% in North America during the first quarter. Processing in Europe fell by only 2%, and in Asia - even less. The data comes as cocoa futures prices have more than doubled since the start of 2024. Read also: Chocolates are becoming more expensive and smaller. Why is there not enough cocoa in the world? We will remind: Cocoa bean futures jumped to a record high ...

Source: Epravda