Cocoa futures rose to record levels on April 19. High cocoa prices will lead to higher prices for chocolate.
Cocoa futures in New York hit a new historic record. The most active contract rose 5% to $11,578 per metric ton in early trading on Friday, April 19. Bloomberg reported.
It is noteworthy that the speed of processing in chocolate factories has been maintained, despite the lack of global supply and high prices.
Ground cocoa – made into butter and powder used in confectionery – grew nearly 4% in North America in the first quarter.
Recycling in Europe fell by only 2%, and in Asia – even less. The data comes as cocoa futures prices have more than doubled since the start of 2024.
Cocoa bean futures jumped to a record above $10,000 a tonne, continuing a historic rally that has seen prices double this year and could weigh on chocolate prices.
We remind you that in March, world food prices increased by 1.1%, which was the first increase in the last seven months.
Source: korrespondent
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