Valentine’s Day Chocolate Rush Comes Just as Cocoa Supplies Tighten
- Money managers have switched to positive bets on cocoa prices
- More Americans plan to buy candy for this year’s holiday
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Just as Americans rush to load up on chocolates for Valentine’s Day, the global cocoa glut is finally starting to ebb.
Cocoa futures in New York have climbed almost 9 percent in 2018, making them one of the year’s best-performing commodities. As signs of tighter supplies mount, hedge funds have switched to betting on an extended rally, after holding negative wagers for the past two months.