Cocoa hits two year high as chocolate industry faces shortage

Have you got a sweet tooth? If so, there is some bad news for you in the commodities markets today. Cocoa has rebounded to a two-year high.

19th November, 2013
The price of cocoa jumping as much as 0.9 per cent today.

Have you got a sweet tooth? If so, there is some bad news for you in the commodities markets today. Cocoa has rebounded to a two-year high in New York and London on speculation chocolate manufacturers need to buy beans to rebuild stockpiles.

The industry may have less than four months of beans on hand to meet demand, according to Eric Sivry, head of agricultural options brokerage at Marex Spectron Group in London. Gains may...

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