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Cocoa prices soar above $10,000/ton on poor harvests

Financial Times — March 26, 2024, 08:00 PM UTC

Summary: Cocoa prices hit over $10,000 per ton due to poor harvests in Africa, with futures peaking at $10,080 in New York. Ivory Coast and Ghana's crop yields dropped, causing a global cocoa shortfall for the third consecutive year. Prices have more than doubled in two months, prompting industry panic. Hedge funds profit from the surge, while chocolate makers plan to raise prices.

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

    ScoresSource
  10. [5.9]
    Cocoa futures hit record high due to supply challenges (CNBC)
    49d

    ScoresSource