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The price of cocoa moved to just over $2850 per ton this week before pulling back. Cocoa beans are the primary ingredient in the chocolate confectionery products enjoyed by people all over the planet. Cocoa production thrives in tropical climates around the equator. Therefore, West Africa is the region of the world that produces almost two-thirds of the annual supplies. The Ivory Coast and Ghana account for the lion's share of output. In the world of cocoa, the two nations are the OPEC of the cocoa market.
The cocoa farming, logistics, and related businesses are