The World's Most Expensive Product Has Been Named

The product that saw the biggest price drop in August was also named.

Cocoa was the commodity that saw the sharpest price increase in the world in August. This was reported by Charter97.org, citing data from ICE Futures, the CME Group, and the Shanghai Metals Exchange.

According to the exchanges, the price of cocoa rose by 28.22% on a monthly basis. Prices also rose significantly for sugar (+19.87%) and wheat (+17.11%). Meanwhile, among food products, orange juice (-6.42%), coffee (-3.97%), and tea (-3.94%) saw the sharpest price declines.

The report indicates that cobalt hydroxide was the commodity that saw the sharpest price decline in August. The price of this substance fell by 16.75%.

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