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The cocoa deficit is so large three consecutive years of shortfalls, and potentially a fourth one coming that sky-high prices are needed to curb consumption meaningfully. But the last few weeks of daily record highs have more to do with financial factors than fundamentals. Meanwhile, there is growing concern about the generally small sized trading firms in the cocoa sector collapsing ....
Cocoa prices have been steadily increasing over the years due to adverse weather conditions like heavy rains, and a disease that has caused crops to rot from the inside out. ....