Record High Cocoa Prices Reached Worldwide

Cocoa beans on the New York Mercantile Exchange hit a record high of $5,874 per ton this week, doubling in price over the past year. The increase is largely due to drought in West African countries such as Ghana and Ivory Coast, which has severely affected cocoa producers in the region. As a result of the higher prices for cocoa, the main ingredient in chocolate, consumers around the world are seeing increases in the prices of chocolate products. This trend is likely to continue until conditions improve for cocoa producers and stabilize the cocoa market.

By Editor

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