On the futures market in New York, USD 5,740 per tonne of cocoa was achieved. That is more than the record price from 1977. Last year, cocoa became twice as expensive. West Africa first received too much rain, which affected the plants by diseases, and is now ravaged by dry winds, which threatens to reduce the harvest even further.
That threatens to weigh on supplies. Planting new cocoa trees is not an immediate solution. After all, it takes several years before they bear fruit. More expensive cocoa will also inevitably make chocolate more expensive.
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