A Failed Crop Rattled the Chocolate Industry. Then Speculators Came. After a production shortfall in West Africa, cocoa prices rose to $4,000 a metric ton from $2,500. Then they went nuts.

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• ptz@dubvee.org ⁨1⁩ ⁨year⁩ ago

  But while the production shortfall underpinned the initial price gains, speculation from investors like hedge funds took things to another level.

  “Yes, there’s fundamentals that trigger the move, but then these financial considerations add to it and compound to the situation.” said Judy Ganes, a commodities consultant. “It’s money driven.”

  And we can charge anything we want: 2,000 a day, 10,000 a day. And people will pay it

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  • baltakatei@sopuli.xyz ⁨1⁩ ⁨year⁩ ago

    This cocoa was not harvested to cater only for the super-rich. Everyone in the world has the right to enjoy chocolate.

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    • ptz@dubvee.org ⁨1⁩ ⁨year⁩ ago

      Sure. We’ll have a coupon day or something.

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• nick@midwest.social ⁨1⁩ ⁨year⁩ ago

  You might say they sent cocoa nuts

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  • AtariDump@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Nicely done.

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• homesweethomeMrL@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Image

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