Cocoa Bean Market Price Reaches Historic New Record

The market price of cocoa beans has reached a historic new record of $10,000 per ton, increasing 2.4 times since the beginning of the year. This is confirmed by data from ICE Futures.

Futures quotes have been updated due to concerns regarding supply shortages. On Tuesday, during trading, the product price reached $10,070 per ton, before slightly decreasing to $9,992.

Among the reasons for this dynamics is the anomalous hot weather in Côte d'Ivoire, which threatens cocoa bean harvests. At the same time, demand for cocoa and chocolate in the world’s leading economies remains high.

The upward trend in prices is also linked to difficulties related to navigation in the Red Sea.

Previously, the stock exchange price of cocoa beans reached a historic record in early February, surpassing $5,500 per ton; the previous historic record was set in 1977, at that time priced at $5,400.