The price of cocoa jumped to an unprecedented level, exceeding the level of $10,000 per ton in New York, as the global shortage of chocolate prices in the market worsened and the cost of chocolate increased. Futures rose as much as 4.1 percent to $10,047 in New York.
Futures have doubled this year to an all-time high, as poor harvests among West Africa's largest farmers put the world on track for a third straight annual supply deficit. The market is grappling with the legacy of poor returns paid to cocoa farmers as concerns grow about the ability to obtain enough beans.
Source (Al-Khaleej Emirati Newspaper, Edited)
