The commodity broke above the $10,000-per-metric-ton mark on Tuesday for the first time ever The price of cocoa beans surged to an all-time high on Tuesday, amid supply constraints in West Africa, which produces about 70% of the crop globally. Benchmark cocoa futures for May delivery on the Intercontinental Exchange (ICE) in New York briefly spiked to $10,030 per metric ton in intraday trading before later easing to trade at around $9,625 per ton. It’s the first time the commodity broke above the $10,000 mark. Prices skyrocketed more than 150% in the last three months, and are up 255% since March 2023. Experts att
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