Workers collect dried cocoa beans in front of the shop of a cocoa cooperative in the village of Hermankono on November 14, 2023.
Sia Kambou | afp | fake images
Cocoa hit a record high on Tuesday as supply constraints fueled rising prices.
Futures for delivery in May They rose 3.9% to $10,030 per metric ton, marking the first time the product has surpassed the $10,000 mark. Cocoa has been on the rise this year, increasing almost 138%.
Huge profits for cocoa in 2024
Ivory Coast, the world's largest coca producer, is facing higher than normal temperatures, which has led to drier-than-usual conditions and crop yields. An outbreak of the cocoa bud bloat virus has also contributed to reduced supply.
The move comes as demand for chocolate in countries like the United States remains strong.
Correction: Cocoa prices are up more than 100% this year. An earlier version misstated the measurement.
