The global cocoa market in 2025 is a study in contradictions: prices hover near $9,500 per ton after peaking at $12,900 in December 2024, yet demand remains stubbornly strong despite the economic headwinds. This paradox underscores a structural transformation in the cocoa supply chain, driven by climate shocks, trade policy turbulence, and a reordering of global demand. For investors, the challenge lies in distinguishing between transient volatility and enduring shifts—while avoiding the pitfalls of overexposure to a market still grappling with its own fragility.
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