{"id":266375,"date":"2024-12-16T14:39:06","date_gmt":"2024-12-16T14:39:06","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/16\/cocoa-prices-hit-record-high-threatening-global-chocolate-supply\/"},"modified":"2024-12-16T14:39:06","modified_gmt":"2024-12-16T14:39:06","slug":"cocoa-prices-hit-record-high-threatening-global-chocolate-supply","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/16\/cocoa-prices-hit-record-high-threatening-global-chocolate-supply\/","title":{"rendered":"Cocoa prices hit record high, threatening global chocolate supply"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/540\/54085255.295.jpg\" alt=\"Prices for cocoa soared earlier this year\" title=\"Prices for cocoa soared earlier this year\" width=\"295\" height=\"197\" \/> <span class=\"image_caption\"><span>Prices for cocoa soared earlier this year<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">Cocoa futures reached a fresh record in New York as the market grapples with renewed supply concerns, heightening the odds that the high costs already plaguing chocolatiers and consumers will worsen.<\/p>\n<p>Prices for the crop soared earlier this year as weak harvests in West Africa \u2014 the major production hub \u2014 plunged the world into a third straight supply deficit. After cooling, the rally recently regained momentum as adverse weather further threatens the region\u2019s farms, limiting the chance to rebuild already low global stockpiles. <\/p>\n<p>Traders have also faced mounting costs to maintain positions, which forced a wave of bets to be closed out. Aggregate open interest fell to a decade low in November, and the thinning liquidity could continue to exacerbate market volatility ahead.<\/p>\n<p>The most-active contract rose as much as 4.1% on Monday to $11,768 a ton. Futures have more than doubled in 2024, forcing candy makers like Hershey Co. to boost prices.<\/p>\n<p>Cocoa\u2019s supply challenges have been compounded by longstanding industry problems, including crop disease and a legacy of low farmer pay. Newly-planted trees also take a few years to bear pods, delaying a meaningful production rebound.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prices for cocoa soared earlier this year Cocoa futures reached a fresh record in New York as the market grapples with renewed supply concerns, heightening the odds that the high costs already plaguing chocolatiers and consumers will worsen. Prices for the crop soared earlier this year as weak harvests in West Africa \u2014 the major [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":266376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-266375","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cocoa prices hit record high, threatening global chocolate supply - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/16\/cocoa-prices-hit-record-high-threatening-global-chocolate-supply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cocoa prices hit record high, threatening global chocolate supply - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Prices for cocoa soared earlier this year Cocoa futures reached a fresh record in New York as the market grapples with renewed supply concerns, heightening the odds that the high costs already plaguing chocolatiers and consumers will worsen. 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