Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Sia Kambou | Afp | Getty Images Cocoa prices hit a record Tuesday as supply constraints fuel prices higher. Futures for May delivery were up 3.9% at $10,030 per metric ton, marking … Read more
Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Sia Kambou | Afp | Getty Images Analysts believe the cost of the core chocolate ingredient may have room to extend its record-breaking run, with no sign of significant demand destruction yet … Read more
Sugar for sale at a supermarket in Yichang City, in China’s Hubei province, on April 6, 2023. Future Publishing | Future Publishing | Getty Images A mammoth rally in 2023 for El Niño-exposed raw materials will likely hit consumers’ pockets over the coming months, according to one specialist food and agribusiness bank. Soft commodities have … Read more
Halloween candy is for sale at a CVS store in Washington, D.C., on Oct. 17, 2022. Drew Angerer | Getty Images Cocoa, a vital ingredient for chocolate, is more expensive than it has been in decades, as hotter and drier weather patterns stunt the cacao bean crop’s growth. Cocoa futures surged to $3,786 per metric … Read more
A woman spreads cocoa beans during the sun-drying process in the backyard of her house in Asikasu, Ghana on December 19, 2020. Cristina Aldehuela | Afp | Getty Images El Nino is here to stay — and that’s bad news for cocoa crops which are highly sensitive to weather changes. Frequent extreme weather events caused … Read more