World: More than $11 thousand per ton, cocoa prices reached historic highs

On April 19, cocoa prices soared to a record-breaking high, with the most active futures in New York reaching US$11,578 per metric ton. This unprecedented increase is set against a backdrop of varying cocoa processing rates worldwide. North America reported a nearly 4% rise in cocoa processing for the first quarter of the year compared to the same period in 2023, showcasing growth. However, this growth contrasts with declines in other regions, as Europe experienced a 2% decrease in cocoa processing, and Asia saw an even more significant drop. These mixed trends highlight the complex dynamics affecting the global cocoa market.