HomeEconomyWorld cocoa prices have...

World cocoa prices have set new records

Photo: Getty Images

The El Niño weather phenomenon has caused dry weather in Ghana and Cote d’Ivoire, which are the two largest producers of cocoa beans in the world.

Global cocoa prices have hit record levels as dry weather has damaged crops in West Africa. The BBC reported this yesterday.

It indicates that cocoa prices on the New York stock exchange reached a new historic high of $5,874 per ton. Over the years, the cost of the main ingredient for making chocolate has roughly doubled.

It noted that cocoa prices have risen due to low yields in West Africa, which make up the majority of global supplies.

The El Niño weather phenomenon has caused dry weather in Ghana and Cote d’Ivoire, which are the two largest producers of cocoa beans in the world.

High temperatures and changes in rainfall patterns caused by climate change can also affect crops.

“Traders are worried about another short year of production, and those feelings are amplified by El Niño, which threatens crops in West Africa with hot, dry weather,” said the Price analyst. Futures Group Jack Scoville.

One of the world’s largest chocolate makers, Hershey, expects historic cocoa prices to limit revenue growth this year and has not ruled out raising prices for customers.


El Niño and La Niña are opposite extreme values ​​of water temperature and atmospheric pressure, characteristic of the equatorial zone of the Pacific Ocean, which last for about six months.

The El Niño phenomenon consists of a sharp increase in temperature (by 5-9 °C) of the surface layer of water in the eastern Pacific Ocean (in the tropical and central parts) in an area of ​​about 10 million km2.

La Niña, the opposite of El Niño, manifests itself as a drop in surface water temperature below the climate norm in the eastern tropical Pacific Ocean.

Together they form what is called the Southern Oscillation.

We remind you that in 2023, world food prices will drop by 11%. However, prices for vegetable oils, dairy products and sugar have increased.

Some Ukrainian families experience food shortages – UN


New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

GBI was struck by anger, the requirement of short -term reconciliations of SOC without Boytsov’s order

Employees of the State Bureau of Investigations exposed military personnel in the Nikolaev area, who demanded that the military left some of the military in exchange for returning to the service. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...

In Priluki, the Cisland arrived at the post of drone in his house, where he was killed

The rescuer arrived in Pryluky to eliminate the effects of a drone that fell into his house, where his family was killed. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...