Cocoa prices fell by almost 30% after a historic rise. Such a sharp change is due to a lack of liquidity, new regulations and market speculation, according to Bloomberg.

It said cocoa prices fell 7.6% to $6,990 a metric ton, but then pared losses to rise 0.9%. The price is still on track for a 28% weekly drop, the biggest since 1959.

Cocoa prices are now about 40% below their all-time high of nearly $12,000 a tonne. If such quotations remain, then the price of chocolate in Ukraine may not increase as significantly as expected, experts note.

Analysts emphasize that the drop in cocoa prices is caused by trade maneuvers, not fundamental changes in the market.

It will be recalled that on April 19, the price of cocoa beans rose sharply by 5% and reached an all-time high of $11,578 per metric ton. Arabica coffee also rose in price - by 2.5% and raw sugar - by 0.6%. On March 26, cocoa futures jumped to a record $10,000 per ton.

Bloomberg explained that the sharp increase in prices is related to an unfavorable harvest in West Africa. The recent rains in the region may have an impact on the situation, contributing to a better harvest, but will not completely solve the drought problem.

Rising cocoa prices will allow farmers to invest more in fertilizers, pesticides and other technologies to increase yields, experts predict.