Cocoa Prices Surge Past Copper on NY Futures Market, Creating Panic in the Chocolate Industry

Copper cheaper than cocoa

In a significant shift in the commodities market, the price of cocoa beans has surpassed the price of copper on the New York futures market. On Tuesday, the price of cocoa rose by over 5 percent to a record high of $9,400 per ton.

The increase in cocoa prices is causing panic in the industry due to factors such as poor weather conditions and structural issues, including aging and diseased trees in West Africa – the main source of cocoa production. These issues have led to smaller harvests and a 50 percent increase in the price of cocoa in March alone.

The rising prices of cocoa beans have significant implications for the chocolate industry, as costs are likely to be passed on to consumers. The combination of supply chain challenges and increased demand for cocoa products could lead to a shortage in the global cocoa supply. This trend is concerning for both producers and consumers in the chocolate industry.

Leave a Reply