Cocoa prices surged 200% due to weak crop yields, instability, and supply-demand imbalance, outperforming Bitcoin's 150% gain in a year.

Cocoa prices have surged over 200%, outperforming Bitcoin's 150% gain in the last year. Record-high cocoa futures of $8,018 per metric ton were reached, mainly due to weak crop yields in West Africa, political instability, lack of investment in new cocoa plants, and imbalanced supply and demand. The S&P GSCI Cocoa index has increased by 206% over the last 12 months and over 90% year-to-date.

March 18, 2024
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