Cocoa Rout Spurs Concern Some Farmers Will Return to Cocaine
- Cocoa futures fell for five months, longest slide since 1999
- In Peru, concern some growers may consider cocaine crops
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The worst cocoa price rout in more than 17 years is raising concern that farmers in South America may quit growing the raw material used in chocolate, and shift to alternative crops such as cocaine, industry groups said.
The beans traded on ICE Futures U.S. in New York have tumbled for the past five months, the longest slide since May 1999. Cocoa is trading near the lowest since March 2013, pushed down by an expected global surplus.