World: More than $11 thousand per ton, cocoa prices reached historic highs
Published Apr 19, 2024
Tridge summary
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.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Cocoa prices set a new record on Friday, reaching an all-time high of more than US$11,000 per tonne. Bloomberg reports this. In New York on April 19, the most active cocoa futures rose 5% to US$11,578 per metric ton in early trading. Data released Thursday after the market closed showed cocoa processing, in which it is turned into butter and powder then used in confectionery, grew nearly 4% in North America during the first quarter of ...
Source: Finance
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