Cocoa is more expensive than copper as it tops $9 000

Prices are up about 60% this month alone and have more than doubled already this year.

Cocoa extended its surge — gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans.

Poor harvests on the back of bad weather and crop disease in West African growers, where most of the world’s cocoa is grown, and little sign of production relief elsewhere have left the industry in a bind. Cocoa’s advance will feed through into higher chocolate costs throughout the year. Easter eggs are already getting more expensive due to last year’s price jump, and some manufacturers are curbing bar sizes or promoting varieties with other ingredients to soften the blow.

“Chocolate may be even more expensive in Easter 2025, if cocoa-tree diseases and inclement weather prolong the deficit amid high sugar prices,” Bloomberg Intelligence analyst Diana Gomes said in a note on Friday. ADVERTISEMENT CONTINUE READING BELOW While prices have soared, speculators have actually been pulling out of the market.

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