Cocoa prices double ahead of Easter chocolate products season

Crops in West Africa — the heavyweight growing region — have been battered by diseases and a series of weather extremes, putting the world on track for a third straight supply deficit

In response to the higher global prices, some other countries like Ecuador and Brazil are ramping up production, but trees take at least three years to produce pods.

Prices of cocoa on global markets have doubled in less than three months as their landmark surge intensifies, boosting costs for consumers and sending chocolate makers scouring for supply.

The most-active contract in New York rose as much as 5.9% to $8,493 a metric ton, the highest on record.