See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Cocoa prices soar to record high as El Niño batters West African growers

Posted on AllSides February 10th, 2024
From The Center
AFP via Getty Images

Global cocoa prices have soared to record highs as bad weather batters harvests in the world’s main producing countries in West Africa. 

New York cocoa prices surged to $5,874 per ton on Thursday, a rise of more than 40 per cent since the start of the year. London cocoa futures meanwhile have more than doubled from a year ago, rising 7.3 per cent on Thursday to £4,600 per ton.  

The moves prompted a warning from chocolate maker Hershey that surging raw material prices will hit profits.

“We’ve had a humongous...

Read full story
Some content from this outlet may be limited or behind a paywall.
https://www.ft.com/content/c163633a-cd9e-4962-8b7f-3d6c44463405

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right