Cocoa prices have reached a record high, surpassing $12,000 per tonne. The prices have experienced a significant increase of 180% from January to April, going from $4,200 to nearly $11,700.

After a period of stability between $6,000 and $7,000 per tonne, prices have once again risen, going from $6,200 at the end of October to over $12,000 in less than two months, representing a rise of over 90%. This volatility has raised concerns about stock replenishment, especially as government forecasts have been revised downward to approximately 2.1 to 2.2 million tonnes at the beginning of the season in October.

The expected impact of weather conditions on the intermediate harvests in Côte d'Ivoire and Ghana, along with the arrival of the Harmattan, a hot and dry wind, has contributed to the tense market situation.