Reported 12 days ago
Cocoa futures surged past $12,000 per ton in New York, reaching a new record as fears over reduced output in the Ivory Coast, the top cocoa producer, intensify. A poor harvest this season has led to significant supply concerns, with projections showing a nearly 10% decrease in production compared to earlier estimates. The rise in prices follows a trend of tripling values this year due to ongoing deficits and declining stockpiles.
Source: YAHOO