World cocoa prices have fallen by 17.5% since the beginning of the week, falling below 8.9 thousand dollars per ton. This is evidenced by data from the ICE Futures exchange.
May futures contracts for cocoa beans are trading at $8,850 per tonne (-11.35%) on Tuesday. It closed at $10,729 per ton on Friday.
Moreover, just a week and a half ago, on April 19, the foreign exchange price of cocoa Established It reached a new historical maximum by exceeding the limit of 11 thousand dollars per ton.
Foreign exchange prices of cocoa beans began to fall after positive news from Nigeria, the world’s fifth largest producer. A country reported It is stated that cocoa exports increased by 19% annually to 22.2 thousand mt in March.
Before that Russians warned regarding the increase in cocoa prices in the coming months. You can change the drink carob.
Previously recognizedThe list of leading countries in coffee exports in the world has changed.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.