News
cocoa prices are breaking records – UNIAN
The cocoa supply situation is only getting worse.
Cocoa prices set a new world record. This situation will have a negative impact on chocolate producers and consumers.
Bloomberg writes that cocoa futures hit a new record in New York as the market again faces supply pressures, raising the possibility of a worsening cost problem.
Prices for the crop soared earlier this year as a weak harvest in West Africa – the main production hub – led to a third consecutive global supply shortage. After a brief lull, prices began to rise again due to unfavorable weather in the region, limiting the chances of a recovery in already low global stocks.
The most active contract rose 4.1% in…
