PRETORIA, May 2. /TASS/. A significant drop in cocoa beans prices occurred this week on leading global commodity exchanges, the South African radio station SABC reported.

On May 2, the price per metric ton of cocoa beans with the delivery in July fell in the midday in New York by 6.3% to $7,760, the radio station noted. The price drop was caused by the market loss of a significant liquidity portion because many traders stopped buying cocoa beans due to their cost. Cocoa beans prices surged to record high $11,878 per metric ton on April 19 in New York. The increase was 150% from the start of this year.

The price weakening process has started recently because many companies halted procurements, the experts said.