The price of cocoa reached new historical records today, surpassing 10,000 dollars per ton in New York, before falling slightly.
At 17:10 (Lisbon time), the price of cocoa for delivery in May in New York remained at 9,666 dollars, after having surpassed the barrier of 10,000 dollars per ton at the beginning of the European session, which will have an impact on the price of chocolate .
“A ton of cocoa now costs more than a ton of copper”, highlighted Kathleen Brooks, an analyst at XBT, cited by AFP.
Demand, which remains strong, combined with a significant reduction in supply from West Africa, the main producing region, has led prices to historic highs since 2023, with successive records.
Ivory Coast and Ghana are by far the main cocoa producers, with almost 60% of total production in the 2022/2023 harvest, according to estimates by the International Cocoa Organization (ICCO).
“Last year, these countries experienced difficult weather conditions, notably intense heat, which had a negative impact on production,” explained Ole Hansen, analyst at Saxobank.
