Cocoa, known for its contribution to good muscle contraction and the synthesis of muscle fibers, is breaking new price records on the stock market.
This Monday, December 16, the ICE Futures exchange reveals the prices of commodities on the exchange market.
The price of cocoa has seen a price increase for more than seven consecutive weeks, with an increase of 14.7% last week.
For several years, prices have varied between 1,558,611 F CFA and 1,870,334 F CFA per tonne. Price changes refer to fluctuations in supply and demand.
However, at the end of 2023, the cost reached 2,493,778 CFA francs ($4,000, an increase of $1,000). Ultimately, prices tripled last April amid a supply deficit.
The reasons for this price explosion can be found in the poor harvests in West Africa.
This region has a large cocoa production capacity. It takes first place among the cocoa-producing regions in Africa.
Cocoa tree diseases and unfavorable weather conditions have not made things easy for farmers this year.
On the other hand, global stocks have been in a big decline for a while. Not to mention that for two decades, American stocks have been at their lowest level.
This shortage could pose a global crisis if stocks continue to fall. At this rate, the price of cocoa can reach astronomical sums.
