Odd Lots
Lots More on the Parabolic Surge in Cocoa Prices
Mar 29, 2024
Javier Blas, a Bloomberg Opinion columnist and commodities market expert, delves into the cocoa price surge, which has reached a staggering $10,000 per metric ton. He explains how chronic underinvestment in cocoa supply has collided with financial speculation, driving prices sky-high. The conversation explores the imbalances in the cocoa industry, where producers earn little while others profit significantly. Blas also discusses the implications of these rising costs for chocolate lovers and the broader economic landscape.
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Quick takeaways
- Chronic underinvestment in cocoa supply and financial market activity are driving cocoa prices to record highs.
- Increased demand, crop failures, and financial factors like margin calls contribute to the surge in cocoa prices.
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