Cocoa Is More Expensive Than Copper as It Tops $9,000
- New York futures have climbed about 60% in March alone
- Supply shortages grip the market, boosting chocolate costs
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Cocoa extended its surge — gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans.
Futures in New York climbed for a fourth straight day, adding to gains after news about funding challenges in Ghana, the world’s second-largest grower.