Lettuce at the price of beef and cocoa: Madness in the global markets

While the grain market has recently been experiencing significant declines, something completely opposite is happening on the cocoa market. Its price is the highest in history and has already exceeded $10,000 per tonne. Cocoa with the highest price in history The reasons are climate change and diseases that increasingly affect plantations. Cocoa continues the upward trend that began in the fall of 2022. At the end of September this year, the price of cocoa approached the level of $2,200 and then began to gradually increase. With disturbing information about drought in the regions where it is grown, the price was rising faster and faster. Cocoa prices have increased by 138% since the beginning of the year, and by 234% in the last 12 months. - comments Paweł Majtkowski, eToro markets analyst. According to the forecasts of the International Cocoa Organization (ICCO), which brings together 51 countries producing and purchasing the raw material, in the season lasting from October 2023 ...