Cocoa prices on the New York Stock Exchange have set a new all-time record, confirming steady growth even in the context of global supply problems and high prices. According to data published by Bloomberg, on April 19, the price of cocoa beans rose by 5%, reaching $11,578 per metric ton.

Reports after the market closed showed that cocoa processing, which turns into the oil and powder used in chocolate production, grew by almost 4% in North America during the first quarter of 2024 compared to the previous year.

European cocoa processing decreased by about 2% during this period, and Asia saw an even greater decline, despite the fact that futures prices have doubled since the beginning of 2024.

In addition, prices for Arabica coffee jumped by 2.5% and raw sugar by 0.6%.

The reasons for such a sharp rise in prices are related to a variety of factors, including the difficulty in growing and transporting cocoa in a worsening climate and increased labor costs. Moreover, increased demand for quality and higher consumer expectations have also pushed cocoa prices to new peaks.

According to analysts, rising cocoa prices could have a major impact on the cost of chocolate and confectionery products, which could lead to higher costs for consumers.