Chocoholics won’t be the only victims of cocoa’s surge

Chocolate is becoming scarily expensive. (Image: Getty)

Sun, 31 Mar 2024

By Javier Blas In every sustained commodity price rally, there’s a moment when fundamentals – supply, demand, inventories – no longer matter. The cost of the molecules, whether in the form of energy or foodstuffs or metals, stops being a price and becomes just a number. The market ceases to be orderly and becomes unruly.It’s clear that moment has arrived for cocoa. On Tuesday, cocoa futures in New York surged above the previously unthinkable US$10,000 (NZ$16,660) a metric ton. In dollar terms, they surged...

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