The costs have surged to 12-year highs Prices for chocolate-making ingredient cocoa jumped to the highest level in more than 12 years last week, amid growing concerns about future production at a time when available stocks are already low. New York cocoa futures rose to $3,552 per metric ton, peaking earlier at $3,569 per ton, which is the highest price for the commodity since March 2011. Experts have attributed the spike in prices to declining global supply of the product. “I don’t think we ever had three consecutive years of deficit,” soft commodities analyst Judith Ganes told Reuters, adding that crops in the
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