Cocoa prices in the New York commodity market increased by 135 percent this year, reaching a record level of over 10 thousand dollars per ton.
Cocoa prices in London rose to a new historical high on Tuesday, rising 144 percent in the same period.
The declines in cocoa production were caused primarily by heavy rains in the West African countries of Ghana and Ivory Coast, the world's largest cocoa-producing countries.
In addition, in recent years, cocoa plantations have been damaged by diseases and there has been a severe drought.
Following a wave of speculation regarding global supply shortages, cocoa prices began to rise last year and cocoa demand began to outpace supply.