World prices for cocoa beans fell 10% for the first time since February

Global prices for cocoa beans fell 10.64%, the largest weekly drop since February, according to data from the New York Mercantile Exchange (NYMEX). By the time trading closed on Friday, December futures fell 7.71% to $5.3 thousand per ton.

Prices for cocoa beans, which are a key raw material for chocolate, fell about 20% in three weeks. On August 31, they were $6.7 thousand per ton.

The decrease in the cost of cocoa beans may be due to favorable weather conditions in West Africa, Kommersant experts believe. At a time when cocoa prices were at their peak, many producers began to reduce its content in products, which led to an overall decrease in demand. However, even the fall in the price of cocoa beans does not lead to a comparable reduction in the price of chocolate products in many countries. It is likely that this is due to long-term supply contracts that have been awarded at even higher prices.