Why the price of chocolate’s key ingredient skyrocketed in 2024

Chocolate’s key ingredient has soared in commodities markets throughout 2024. Spot prices for cocoa began the year around $4,200 an ounce, then hit an all-time high of more than $12,000 an ounce in late April before settling above $9,000. Factors such as crop disease, El NiƱo, farm-gate prices and market speculation all played big roles … Read more