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Chart of the Week: Cocoa Prices Go Nuts

Christian DeHaemer

Posted March 23, 2024

Chart of the Week: Cocoa Prices Go Nuts

You had better stock up on chocolate.  Due to flooding and blight in West Africa where most cocoa beans are grown, the price has gone parabolic.

Companies that process raw cocoa can’t afford to buy the beans.  Companies like Hershey (HSY) have seen their share price drop by about a third from their highs of the year.  Look for prices to rise and chocolate bars to shrink as long-term contracts are renewed into the summer and fall.

All the best,

Christian DeHaemer
Pro Trader Today

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