February 23, 2024 12:03 am
Record High Cocoa Prices Reached Worldwide

Cocoa prices on the New York Mercantile Exchange have soared to a record high of $5,874 per ton this week. This surge has been driven by drought in West African countries such as Ghana and Ivory Coast, which has doubled cocoa prices over the past year. The situation has severely impacted cocoa producers in the region.

Due to the higher prices for cocoa, which is the main ingredient in chocolate, consumers worldwide are facing price increases for chocolate products. This trend is expected to persist until conditions improve for cocoa producers and stabilize the cocoa market.

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