Cocoa prices have more than doubled in the past few months due to unprecedented shortages in the physical market, leading to a surge in cocoa futures prices. Traders, processors, and chocolate makers are facing increased costs or considering exiting the market. The ongoing cocoa price surge is attributed to a short squeeze, with global cocoa prices skyrocketing, making chocolate more expensive and potentially a luxury item.
"The kind of chocolate bar that we’re used to eating, that’s going to become a luxury... [and] it’s going to be twice as expensive." Chocolate prices to keep rising as West Africa’s cocoa crisis deepens. — in pictures https://t.co/Of8GpLW8H9 https://t.co/uYYOvqKjEj
VIDEO COLUMN: Choc-inflation !!! I tried to explain the ongoing cocoa price boom (and the short squeeze) in a video for the ‘TikTok generation.’ @Opinion #cocoa #chocolate https://t.co/Qk6B1pWIqC
I tried to explain the ongoing cocoa price surge (and short squeeze) in a video for the ‘TikTok generation.’ Somehow (please, don’t ask…), the final result includes the scenes below. 🎥📽️ The full video is here: https://t.co/Qk6B1pWIqC @Opinion #cocoa #chocolate https://t.co/JVszvqhGFk
Why global cocoa prices are skyrocketing: [Via @axios] https://t.co/5LmqJFX6RV https://t.co/zEFFtxw4YZ
Amid unprecedented shortages in the physical market, prices for cocoa futures have more than doubled in just three months — forcing traders, processors and chocolate makers to stump up more cash to cover their trades or head for the exit. https://t.co/cq0qF806bK
LOTS MORE ON THE SURGE IN CHOCOLATE PRICES @TheStalwart and I brought back the one and only @JavierBlas to talk about what’s going on with the soaring price of cocoa. 🍫🍫🍫 https://t.co/9CklfghOee
Why have cocoa prices more than doubled in the past few months alone? And what could halt the surge? https://t.co/UsHVNEJFAK via @tracyalloway @TheStalwart https://t.co/aNAlf8l5iw