World prices for cocoa beans unexpectedly collapsed

On Tuesday, the price of cocoa on the exchange fell 3.5% and fell below $5,000 per ton. That hasn't happened since late July. This is according to ICE Futures.

By 13.20 Moscow time, March futures fell by 3.48% compared to the previous close and cost 4935 dollars per ton. Below $5,000 quotes fell for the last time on July 28. Since the beginning of the month, the price has decreased by 9.5%.

Cocoa beans are the main raw material for chocolate and other confectionery products. The main producers of cocoa are the states of West Africa, primarily Côte d'Ivoire and Ghana. They account for a significant share of global supply.

Crop yields are affected by climate, precipitation, plantation condition and plant diseases. With production concentrated geographically, the global cocoa market is acutely reacting to weather anomalies and supply disruptions.

Raw material quotations are also determined by stocks, crop forecasts, exchange rates and how market participants estimate demand from chocolate producers.

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