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Cocoa futures hit record high due to supply challenges

CNBC — March 26, 2024, 12:00 PM UTC

Summary: Cocoa futures hit a record high, with May delivery up 3.9% at $10,030 per metric ton, a 138% increase in 2023. Ivory Coast, the top cocoa producer, faces challenges due to hot weather and a cacao virus outbreak. Chocolate demand in countries like the U.S. remains high. Cocoa prices surged over 100% this year, not as previously stated.

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Timeline:

  1. [2.0]
    Cocoa prices may stabilize around $9,000-$10,000/ton; caution ahead (CNBC)
    40d
    Source
  2. [5.8]
    Cocoa prices surge, impacting Cadbury and Easter sales (The Guardian)
    44d

    ScoresSource
  3. [5.0]
    UK Easter spending surpasses £1bn, driven by chocolate demand (The Guardian)
    44d
    Source
  4. [6.5]
    Global cacao shortage leads to record-high cocoa prices (The Guardian)
    46d

    ScoresSource
  5. [5.2]
    Easter egg prices rise due to shrinkflation and ingredient costs (Financial Times)
    46d
    Source
  6. [5.8]
    Chocolate prices surge due to cocoa price increase and supply challenges (ABC News)
    47d

    ScoresSource
  7. [4.8]
    Cocoa price surge impacts Easter chocolate prices and production (CNN)
    47d
    Source
  8. [6.2]
    Climate change impacts cocoa supply, raising Easter chocolate prices (The Associated Press)
    47d

    ScoresSource
  9. [5.9]
    Cocoa prices soar above $10,000/ton on poor harvests (Financial Times)
    49d

    ScoresSource
  10. [6.1]
    Cocoa prices surge to record high, supply deficit worsens (CNBC)
    49d

    ScoresSource