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Record High Prices Reached for World Cocoa


Feb 11, 2024

The historic rise in cocoa prices has reached new levels, with prices for cocoa beans on the New York Mercantile Exchange reaching $5,874 per ton this week. The climb in cocoa prices is directly linked to a drought that has devastated cocoa producers in Ghana and Ivory Coast. In the past year alone, cocoa prices have doubled due to the struggling cocoa producers. As a result, the price of chocolate products, which rely heavily on cocoa, are increasing worldwide.

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