Cocoa Jumps to Fresh Record on Persistent Supply Fears
- Futures on Friday capped biggest weekly gain since 1999
- Rally threatens to increase costs for chocolate makers
Sacks of cocoa beans in Abidjan, Ivory Coast.
Photographer: Andrew Caballero-Reynolds/BloombergThis article is for subscribers only.
Cocoa’s rally shows no sign of slowing, with prices surging to a fresh record in New York on mounting fears about supply shortages.
Futures climbed as much as 5% on Monday, after capping the biggest weekly jump since 1999. Prices have soared as drought and disease ravaged crops in key West African producers, threatening to raise costs for chocolate makers that risk being passed on to consumers.