MOSCOW, March 26 The exchange value of cocoa beans in the world on Tuesday reached a new historical record — more than 10 thousand dollars per ton, having increased 2.4 times since the beginning of the year, follows from ICE Futures data.
In early February, the exchange value of a ton of cocoa beans for the first time since 1977 was 5 thousand dollars, and less than a week later prices increased to 5.5 thousand dollars per ton, exceeding the record of 47 years ago. At the beginning of last week, the price exceeded 8.3 thousand dollars per ton, having increased exactly 2 times since the end of last year.
Today, during trading, the price of cocoa beans reached $10,070 per ton, which is 2.4 times more than at the beginning of the year. At the same time, it then rolled back a little — to $9,992.
In January, the International Cocoa Organization reported that the shortage of cocoa beans in the world, which has been ongoing for two years, will continue in 2024, while difficulties with shipping in the Red Sea will support the current trend to increase the price of these raw materials.
Evgeny Mironyuk, an expert on the stock market at BCS World of Investments, named the drought in West Africa and high prices for fertilizers as other reasons for the acceleration in prices. Then he noted that it would not be possible to eliminate the shortage quickly: new trees take several years to produce cocoa beans, so producers may need from 1.5 to 3 years to eliminate the shortage.