The Association of Cocoa Producers reported that after a meeting between the different actors in the chain they agreed on a base price of $10,000 per ton of cocoa and two price bands as references: a maximum of 33% after $10,000 per ton upwards and a minimum of 25% of $10,000 down
The Association of Cocoa Producers (Asoprocave) reported that representatives of the national cocoa sector, industrialists, exporters and the Ministry of Agriculture agreed to set band prices for the commercialization of the item.
Álvaro López, spokesperson for Asoprocave, explained that the agreement was reached after analyzing proposals from industrialists and exporters on operational purchasing costs and that criteria were unified on the establishment of minimum price bands for cocoa, in relation to price fluctuations. established in international stock exchanges.
*Read also: Cocoa is the raw material that rose the most in price in 2024
In that sense, A base price of $10,000 dollars per ton of cocoa was set and two price bands as references: a maximum of 33% after $10,000 per ton upwards and a minimum of 25% after $10,000 downwards.
López explained that with this they estimate to avoid both the paralysis of marketing and also the fact that prices hit a floor when prices drop. He stressed that the price will be subject to permanent evaluation, indicates a note from Diario El Tiempo.
Cocoa appears to be the commodity that has risen the most this year, even more than the US stock market and bitcoin, as prices of the main ingredient in chocolate have more than doubled in 2024 to reach a new record this month. For delivery in March, this raw material stood at $11,954 per metric ton last Friday, which represents an increase of almost 185% so far this year, according to Dow Jones Market Data, cited by Marketwatch.
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