Reported 1 day ago
Cocoa prices have skyrocketed in 2024 due to dwindling production in West Africa, leading to significant market shortages. As the tight supply and adverse weather conditions raise concerns over the current harvest, futures have reached unprecedented highs near $13,000 a ton. Chocolatiers, who previously delayed purchasing, are now scrambling to secure supplies at these record prices, further intensifying the market's volatility. With low liquidity and ongoing supply issues, the cocoa industry faces the risk of continued price spikes in the coming months.
Source: YAHOO