Mar. 26 at 6:16 PM
Choclate Bunnies everywhere wondering at what price does cocoa need to hit for the public to stop eating them!!
May ICE NY cocoa hit
$1000 intra-day high - global cocoa grinders are paying up to secure cocoa supplies due to growing concerns that West African cocoa suppliers may default on supply contracts.
Ghana's Cocoa Board (Cocobod) said Ghana's 2023/24 cocoa harvest might be only 422,500 MMT to 425,000 MT, half the country's initial forecast & a 22-year low, as extreme weather and disease decimated the cocoa crop.
Cocoa prices have risen +133% since the beginning of the year.
$HSY $MDLZ -
$AFK