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According to the Wall Street Journal, cocoa futures prices have climbed from around 2000 Euros/ton in 2022 to 2750, due to a combination of bad weather in Africa and increased demand for chocolate. Chocolate prices are already up some 20-30% in the past year here, that's likely to continue.
Recent EU legislation banning the importing of any cocoa that doesn't meet labeling guidelines to certify it wasn't produced on recently deforested land is likely to cause the cocoa market to go even higher. One cocoa trader is quoted as saying he doubts there is any cocoa currently available that meets the new EU guidelines.
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