Source link The commodity broke above the $10,000-per-metric-ton mark on Tuesday for the first time ever The price of cocoa beans surged to an all-time high on Tuesday, amid supply constraints in West Africa, which produces about 70% of the crop globally. Benchmark cocoa futures for May delivery on the Intercontinental Exchange (ICE) in New […]
Source link Experts have attributed the shortages in Cote D’Ivoire and Ghana, which produce more than half of the world’s cocoa, to extreme weather The world’s largest cocoa producers, Cote d’Ivoire (Ivory Coast) and Ghana, have halted or scaled down processing in major plants amid soaring bean costs, Reuters reported on Thursday, saying the situation […]
Source link The price of cocoa beans has soared to an all-time high due to low harvests caused by droughts in West Africa, which produces the majority of global supply. Benchmark cocoa futures for March delivery on the Intercontinental Exchange (ICE) in New York briefly spiked above $6,000 per metric ton in intraday trading on […]
Source link Prices for cocoa soared to their highest level in nearly half a century this week amid declining global supply, according to trading data. New York futures for the key chocolate-making ingredient rose above $4,200 per metric ton, the highest price for the commodity since September 1977, surpassing the 2011 peak that resulted from […]