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The price of cocoa beans hit a record high of more than 8,200 dollars (approximately £6,500) per tonne this week – up from 2,600 dollars compared to this time last year. ... USA TODAY Sports ...
Bad weather and crop failure sent the price of the bean soaring to record highs in 2024. ... Cocoa gained about 172% in the past year, briefly reaching a record of nearly $13,000 per metric ton on ...
According to Tony’s Chocoloney 2022-23 annual report, cocoa farmers in Ghana and Ivory Coast currently earn about $1.42 and $1.23 per person per day, respectively.
Cocoa beans, cocoa butter and cocoa powder are traded on futures markets. The London market is based on West African cocoa and New York on cocoa predominantly from Southeast Asia. Cocoa is the world's smallest soft commodity market. The futures price of cocoa butter and cocoa powder is determined by multiplying the bean price by a ratio.
In the past thirty years, cocoa prices have been as low as $714 per ton in 2000 to as high as $3,775 per ton in spring of 2011. Although the market price of cocoa fluctuates, fair trade certification has created a minimum price for which the cocoa farmers must be paid per ton. [16]
Cocoa prices fluctuated in June 2024. In London, cocoa prices reached a high of $11,530 per tonne on June 13; the previous year, prices had averaged $3,182. Although effects were similarly observed on the New York market, which reached US$10,782 per tonne, effects were less prominent due to greater European consumption of West African cocoa. [3]
Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday. Bad weather in West Africa is being blamed for damaging crop yields, which is ...
The Food and Agriculture Organization (FAO) Food Price Index 1961–2021 in nominal and real terms. The Real Price Index is the Nominal Price Index deflated by the World Bank Manufactures Unit Value Index (MUV). Years 2014–2016 is 100. Food prices refer to the average price level for food across countries, regions and on a global scale. [1]
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