Hershey, Mondelez See Cocoa Prices Detached From Fundamentals bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The price of cocoa recently reached an all-time high, nearly quadrupling over the past year. While that sounds like a sweet investment, retail investors really have only one way to bet on the commodity.
Cocoa futures surged above an unprecedented $10,000 a metric ton on Tuesday before erasing gains and taking a breather from a historic rally that has seen prices of the key chocolate ingredient double this year. The market is being rattled by poor crops in key West African growers that has…