Cocoa prices are on the rise
Date: 12-02-2024
Cocoa prices hits a record high
The price of cocoa has recently surged due to unfortunate circumstances in West Africa, where the majority of the world's cocoa supply is produced.
Cocoa prices are risen to a new high of $5888 a ton (USD). Thats close to twice the level this time last year.
Poor harvests have been caused by a combination of cocoa swollen shoot viral disease as well as the El Niño weather phenomenon. This has resulted in drier conditions in Ghana and Ivory Coast, the two largest cocoa bean producers globally.
Read more here: Cocoa - Price - Chart - Historical Data - News (tradingeconomics.com)
