Posted 3/28/2024, 2:15:59 PM
Cocoa Prices Skyrocket Over 200% on Supply Shortages, Straining Market and Companies
- Cocoa prices have surged over 200% in 3 months due to poor harvests and supply shortages
- The rally is putting immense strain on the cocoa supply chain and futures market
- Traders, processors, and chocolate makers are struggling with higher costs and margin calls
- There are fears of potential company failures and problems like the recent energy and nickel crises
- Attention is turning to the new West African cocoa harvest, but supplies likely won't improve until next year