Cacao price hits a record high

Speculators have predicted that the global market will fall short of around 38,000 tons of cacao this season.

Concerns over the insufficient supply of cacao from Cote d’Ivoire- the world’s largest cacao producer has led speculators to buy up a huge volume of cacao products.

In the recent past, during the six trading sessions, the price of cacao has hit a 29-year record high of US$3,361 per ton.

During the past week, the domestic price of cacao in the central highland province of Dak Lak also saw a sharp increase. The Cargill company is buying at VND51,700 per kg, up nearly VND4,000/kg over last week.

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