“Chocolate”

Cocoa futures hit $12,261 per metric ton in April 2024 — the highest on record and nearly triple the price from two years earlier. While prices have pulled back to around $7,000–8,000 per ton by late 2024, chocolate bars at grocery stores still cost 30–40% more than they did in 2022. The question facing traders, food companies, and anyone with a sweet tooth is whether this represents a new structural floor or a commodity bubble ready to deflate.