Cocoa price rises to $11,000 per ton for first time

Maria Novoselova/"Vestnik Kavkaza"

Cocoa beans continue to rise in price at record levels. Yesterday, the stock exchange set the bar at $11 thousand per ton. This is a historical record.

In early February, the exchange price of a ton of cocoa reached $5 thousand, and since then, the growth has continued, regularly updating its highs. In the last days of March, cocoa beans rose in price for the first time in history to $10 thousand. On April 15, as follows from data from the ICE Futures exchange, prices exceeded $11 thousand. The cost of May futures for the supply of cocoa beans reached $11,068 the day before.

The forecasts of the International Cocoa Organization are disappointing. There are no preconditions for stabilization or reduction in cocoa prices.

There are several reasons for record cocoa prices, one of them is several years of poor harvest.

© Photo :Maria Novoselova/"Vestnik Kavkaza"