Cocoa prices rise to fresh records: Will we run out of chocolate?
Cocoa prices briefly surged to all-time highs on Tuesday, touching over $10,000 (€9,234.3) per ton, before settling back at $9,622 per ton on Wednesday morning, following disappointing harvests in key cocoa-producing countries such as Ghana and Ivory Coast. Cameroon, another cocoa-producing nation, has also been seeing much of the same conditions. The crop also saw a 19.8% gain in the past week, as well as a 42.4% rise this month. In the past year, cocoa prices have jumped about 231%. Cocoa is widely used in a number of chocolate products and confectioneries, with by-products such as cocoa nib...