Prices for cocoa beans exceeded $10 thousand per ton for the first time in history – Kommersant

Cocoa bean futures quotes reached a historical high during trading and exceeded the price of $10 thousand per ton. At the moment they were trading at $10,030 per ton. At 18:30 Moscow time, futures for cocoa beans remained at $9.9 thousand per ton, according to the portal data Investing.com.

Since the beginning of 2023, futures quotes have increased 2.4 times over the past five sessions. This is more than 20%. At the beginning of February, the stock market value of a ton of beans was $5,000 for the first time since 1977.

Stock market expert at BCS World of Investments Lyudmila Rokotyanskaya in a commentary for “RIA News” stated that such a rapid increase in the cost of cocoa beans can be explained by a serious crop failure in Africa and changes in EU legislation. The EU recently passed a forest conservation law that requires suppliers to provide evidence that the cocoa beans they import do not contribute to deforestation.

Deputy Head of the Agroexport Center Andrey Kucherov reported about the growth of chocolate exports from Russia. Over five years, exports grew by 40%.

How the rise in price of cocoa beans will affect the cost of chocolate – in the material “Kommersant FM” “Chocolate with alternative flavor”.

Evgeny Belousov