Record Cocoa Prices of $10,000+ in Global Market Impacting Belgian Chocolate Producers

Cocoa Price Increasing Faster Than Bitcoin, Stabilization Not Expected Soon

The global cocoa market has been experiencing a steady increase in prices, with one ton now costing over $10,000. This rise is due to poor harvests and weather phenomena like El Niño, which have led to a scarcity of cocoa beans. Despite the high cost, investing in cocoa could prove to be very profitable as prices have reached unprecedented levels in recent months.

On the New York futures market, a ton of cocoa beans was recently sold for $10,047, an increase of 186 percent from previous months. This growth rate surpasses even that of Bitcoin. Belgian chocolate producers are particularly affected by the high prices as they are the world’s second largest exporter of chocolate. With record prices being set every week, consumers can expect the cost of chocolate to rise in the near future. Large companies in the industry have already indicated that they will be increasing prices to offset the rising costs of cocoa.

However, some Belgian producers like Libeert are taking steps to mitigate the effects of high cocoa prices. By purchasing cocoa at times when prices are low, they are able to control costs and ensure a steady supply for peak seasons like Easter and Christmas. Despite facing challenges posed by high cocoa prices, the Belgian chocolate industry remains a major player in the global market.

The global cocoa market has been experiencing a steady increase in prices, with one ton now costing over $10,000. This rise is due to poor harvests and weather phenomena like El Niño, which have led to a scarcity of cocoa beans. Despite the high cost, investing in cocoa could prove to be very profitable as…

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