Skip to content
Subscriber Only

The End of Cheap Chocolate? Cocoa Futures Surge Most on Record

  • Ivorian suppliers sold more of 2017-18 crop than expected
  • Money managers reduced bets on price drop for three weeks
Samples of Cailler branded 'Les Recettes de l'Atelier' luxury chocolate sit in the production area at the Nestle SA production facility in Broc, Switzerland, on Dec. 19, 2016.
Photographer: Michele Limina/Bloomberg

Cocoa prices soared amid signs of tighter supplies in Ivory Coast, the world’s top grower, raising prospects that chocolate costs will climb.

July futures jumped as much as 6.8 percent, the most ever for the contract. Farmers in West Africa are already locking in more forward sales for next year’s crop than traders were expecting, a sign that supplies from the current harvest are beginning to ebb.