The exchange value of cocoa beans in the world has reached a new historical record - $ 10 thousand per 1 ton, having increased 2.4 times since the beginning of the year. This was announced on Tuesday, March 26, according to ICE Futures data.
Futures quotes were upd ated due to fears of a shortage of supply. So, on Tuesday, during the auction, the price of the product reached $10,070 per 1 ton. After that, it dropped slightly to $9992.
Among the reasons for such dynamics is the abnormally hot weather in Ivory Coast, threatening the cocoa bean harvest. At the same time, the demand for cocoa and chocolate in the world's leading economies remains high. The rising price trend is also associated with difficulties with shipping in the Red Sea.
Before that, the exchange value of cocoa beans reached a historical record in early February - more than $ 5.5 thousand per 1 ton. The previous historical record was se t in 1977, and then it amounted to $5.4 thousand.
Earlier, on March 14, Reuters, citing industry sources, reported that chocolate prices could rise even more worldwide, as large African cocoa factories in Ivory Coast and Ghana stopped or reduced cocoa processing because they could not afford to buy beans. The International Cocoa Organization (ICCO) expects global cocoa production to decrease by 10.9% this season, to 4.45 million tons, the agency said.
In mid-December last year, the Ministry of Agriculture indicated a possible rise in the price of chocolate in Russia. They explained that the price of chocolate products is primarily influenced by the cost of raw materials that are not produced in the country. Thus, the price dynamics is related to the change in the ruble exchange rate, as well as concerns about crop cuts in Ivory Coast and Ghana. In the same month, it became known that in 2023, Russians began to buy more chocolate, as shown by the results of a study of the B2B marketplace of food products on the shelf.
