Cocoa prices are the highest on record as Nigerian flooding further depletes supply
Cocoa futures reached above $10,770 a ton, as the chocolate ingredient looks set for more inventory stress from Nigerian flooding.
cocoa futures
Chocolate lovers beware: Cocoa prices have doubled as extreme weather batters supply
The most active cocoa contract hit an all-time high of $5,600 a metric ton, surpassing a record high of $5,379 notched in 1977.
Foodflation hits home: Cocoa prices surge to a 12-year high just after orange juice smashed records
A mix of heavy rainfall and a black pod disease in West Africa has crunched supply, driving up the price of cocoa.
Top turtle trader Jerry Parker was already making $35 million in 1993. The founder of Chesapeake Capital who trades 'trend following plus nothing' breaks down 2 current trends he's watching — and shares 2 rules he always follows
Top turtle trader Jerry Parker shares the trend following rules that he has used for more than three decades and two trends on his radar.
Hershey drove a record spike in cocoa prices after reportedly sourcing beans from the futures market instead of physical sellers
The trade allows Hershey to obtain cocoa at lower prices, as chocolate producers typically buy from physical suppliers who charge various premiums.
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