The cost of cocoa beans on the commodity market yesterday closed at $6666 per 10 metric tons. This may sound ridiculous, but it's actually a serious problem. The cost of cocoa has more than doubled in a year amid crop losses in Ghana and Côte d'Ivoire.
This means that chocolate producers will soon exhaust their resource reserves and will be forced to raise prices as they buy raw materials at much higher prices. So if you love chocolate, maybe you should buy it for stock, writes Grigoriev from HUG'S.
But it's not just cocoa that's rising in price. Coffee has also risen in price, nearly doubling in the last 4 years. This is far from $240 for 17 tons, as it was at the beginning of 2022, but soon chocolate with coffee will become an expensive pleasure.
In general, the cost of a large group of goods in the commodity market does not want to fall - except for agricultural crops. Therefore, it is too early to celebrate the victory over global inflation. It seems like we'll all have to get used to the higher prices of our favorite products.
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