The price of cocoa on the ICE Futures Exchange exceeded $4,000 per ton for the first time since 1977. This is evidenced by data from the trading platform.
Prime writes that, according to BCS World of Investments analyst Valery Emelyanov, the cost of cocoa in an inflation environment may rise to 5 thousand dollars. In the last 15 years, the average cost of cocoa per ton was 3.5 thousand dollars. The expert states that this level should be 5 thousand dollars, considering the 40 percent inflation in the USA.
“In the worst-case scenario, we could see a multiple increase in the price of cocoa. Now this is just an exaggerated guess. “There has been no real famine for a very long time,” Emelyanov said.
In 1977, due to famine, the price of cocoa reached almost 5.4 thousand dollars per ton. The publication calculated that this is equivalent to 27.5 thousand dollars at current prices, taking into account inflation.
It was known that orange juice futures were traded before this. he jumped up Up 78% on the year to $3.69 per pound due to poor harvest in the US
Previous uranium prices got up up to a maximum of 12 years.