Global shortages and high demand for chocolate have sent futures soaring Prices for cocoa soared to their highest level in nearly half a century this week amid declining global supply, according to trading data. New York futures for the key chocolate-making ingredient rose above $4,200 per metric ton, the highest price for the commodity since September 1977, surpassing the 2011 peak that resulted from that year’s cocoa export ban by Cote d’Ivoire. Prices have skyrocketed by roughly 75% so far this year. Experts have attributed the spike in prices to poor crops in Cote d’Ivoire and Ghana, which supply two-thirds of
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