Cocoa now more expensive than copper

Poor harvests on the back of bad weather and crop disease in West African growers has seen cocoa prices surge.

Chocolate may be even more expensive in Easter 2025 if cocoa-tree diseases and inclement weather prolong the deficit amid high sugar prices.

Cocoa extended its surge — surpassing $9,000 (€8,307) a ton for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans.

Futures are up about 50% this month alone and have more than doubled already this year. Poor harvests on the back of bad weather and crop disease in West African growers, where most of the world’s cocoa is grown, and little sign of production relief elsewhere, have left the industry in a bind.