Surge in Cocoa Prices Reaches Unprecedented Levels, Impacting Chocolate Industry and Consumers

Cocoa Price Increasing Faster Than Bitcoin, Stabilization Not Expected Soon

Cocoa prices have been steadily increasing, with one ton now costing over $10,000. This rise is due to disappointing harvests and there is no sign of stabilization in the near future. Despite the high cost, investing in cocoa could turn out to be very profitable as the price has reached unprecedented levels in recent months.

On the New York futures market, a ton of cocoa beans was recently sold for $10,047, a significant increase from previous months. The price has surged by 186 percent, surpassing the growth rate of even Bitcoin. Poor harvests, exacerbated by weather phenomena like El Niño, have led to a scarcity of cocoa in the market.

Belgium is the world’s second largest exporter of chocolate and large companies in the industry are already indicating that they will be increasing prices to offset the rising costs of cocoa. With record prices being set every week, the cost of chocolate is expected to rise for consumers. However, Belgian producers like Libeert are taking steps to mitigate the effects of record prices. By purchasing cocoa at times when prices are low, they are able to control costs and ensure a steady supply for peak seasons like Easter and Christmas. Despite the challenges posed by high cocoa prices,

Leave a Reply