Cocoa breaks $US10,000 record, with pricier chocolate to follow
Megan Durisin and Áine Quinn
Cocoa futures surged above an unprecedented $US10,000 a tonne, extending a historic rally that’s already seen prices double this year and which is raising the cost of chocolate.
The market is being rattled by poor crops in key West African growers that has put the world on course for a third straight annual supply deficit. The industry is grappling with the legacy of poor returns paid to cocoa farmers and fears are mounting about being able to source enough beans.
Bloomberg
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