World cocoa bean prices fell 11% in a day

Exchange prices for cocoa beans fell by about 11%, or $1,000, to $8,100 per tonne on Monday, according to ICE Futures data.

According to the results of Monday’s trading, the price of the May (nearest) cocoa bean futures contract fell by 10.97%, to $8,123 per tonne. The estimated price for Friday is $9,124. Comparable losses were observed on February 21, when the price fell by almost 10%, to about $9.1 from $10.1 thousand previously. The decline by the end of February was about 16%.

In December last year, the price rose above $12 thousand per tonne for the first time, so at the moment the price has been adjusted by about a third from the historical maximum. At the same time, the price now remains approximately twice as high as in November 2023, when it exceeded $4 thousand for the first time in 46 years. Cocoa stocks in London and New York remain at historical lows.

Tags: prices, cocoa