On April 19, the price of cocoa beans reached an all-time high. On that day, the price of 1 ton of this product was 11,722 dollars on the New York stock exchange.
IS reported that the price of the product decreased by almost 30 percent in May. Currently, 1 ton of cocoa beans is offered for around $8,400.
In recent years, the price of 1 ton of cocoa has hovered around $2,500. In the first 4 months of this year, the price of the product has increased more than 4 times. The foreign media reported the real reason for the price increase and sharp drop in prices.
According to the information received by “Figaro”, one of the international actors started buying the product en masse to increase the price to 20,000 dollars. But other large buyers, on the other hand, stopped all purchases, and finally a sharp fall was recorded in May. Prices are expected to decrease slightly.