A farmer collecting grain from a combine harvester during the wheat harvest on a farm near Benfleet, UK, on Monday, Aug. 12, 2024. Bloomberg | Bloomberg | Getty Images The global commodities market has been volatile this year, with prices remaining largely elevated. Orange juice and cocoa futures surged to record highs in the first … Read more
Dried cocoa beans at the Somos Cacao farm and production facility in Ragonvalia, Norte de Santader department, Colombia, on Friday, March 22, 2024. Ferley Ospina | Bloomberg | Getty Images There’s pricing pressure taking hold of a specific corner of global agriculture — and it’s bittersweet. Prices of cocoa have more than tripled over the … Read more
Chocolate’s key ingredient has soared in commodities markets throughout 2024. Spot prices for cocoa began the year around $4,200 an ounce, then hit an all-time high of more than $12,000 an ounce in late April before settling above $9,000. Factors such as crop disease, El Niño, farm-gate prices and market speculation all played big roles … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. Elizabeth Frantz | Reuters It appears the great inflation scare of 2024 is upon us. In the first three months of the year, the rate … Read more
Investors should consider commodities due to a “big change” involving international expansion, according to VanEck CEO Jan van Eck. “The world economy started growing again,” van Eck told CNBC’s “ETF Edge” this week. He singles out China, the world’s second-largest economy behind the U.S., as a key driver in the expansion. “China which has been … Read more
A worker picks cocoa fruit at the Somos Cacao farm in Ragonvalia, Norte de Santader department, Colombia, on Friday, March 22, 2024. Bloomberg | Bloomberg | Getty Images Citi says a record-breaking rally for cocoa and coffee prices could yet have further room to run, citing adverse weather conditions and demand expectations. In New York, … Read more
A farmers holds cocoa beans while he is drying them at a village in Sinfra, Ivory Coast April 29, 2023. Luc Gnago | Reuters Consumers could start to see the impact of surging cocoa prices as the world faces the worst supply deficit in decades, with farmers in West Africa struggling against bad weather, disease … Read more
Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Sia Kambou | Afp | Getty Images Cocoa hit a record Tuesday as supply constraints fuel prices higher. Futures for May delivery were up 3.9% at $10,030 per metric ton, marking the … Read more
A woman spreads cocoa beans during the sun-drying process in the backyard of her house in Asikasu, Ghana, on Dec. 19, 2020. Cristina Aldehuela | Afp | Getty Images Nvidia may get most of the headlines, but the hottest trade of 2024 is shaping up to be a commodity: cocoa. Cocoa futures have more than … Read more
Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Sia Kambou | Afp | Getty Images Analysts believe the cost of the core chocolate ingredient may have room to extend its record-breaking run, with no sign of significant demand destruction yet … Read more
