by: Andrea Spinelli Barrile | March 28, 2024
New price records for cocoa futures, a growth that seems unstoppable in prices fueled by climate change, adverse weather conditions and a market that is unable to stabilize, partly due to production difficulties (economic and otherwise) and a partly for important speculation operations, which in reality do not benefit production.
The price increase, which consumers can already observe in supermarkets after more than a year of growth in the value of cocoa futures, at prices never seen before in modern history, is having a major impact on the market: in the latest price increase , the cocoa bean traded above $10,000 per ton, which is $2,000 higher than last week.
The world‘s largest cocoa exporters, Ivory Coast and Ghana, reported poor harvests due to drought in February, which followed heavy rains in December. The most popular brands of Easter eggs, spannometrically, cost 50% more in 2024 compared to last year.
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