How The Price Of Chocolate's Key Ingredient Surged More Than 300% In 2024

Chocolate's key ingredient cocoa has soared in price throughout 2024. The soft commodity reached $11,000 a ton for the first time ever, after costing suppliers less than $3,000 a ton two years ago. Factors like crop disease, El Niño, farm gate prices, and speculative market investment have all contributed to the classic sweet's historic run-up. Watch the video above to learn more about the causes of this lengthy move higher in price, and what's next for the industry. Produced and Edited by: Christian Nunley Graphics by: Christina Locopo Supervising Producer: Jeff Morganteen Additional Footage: Getty Images, Nestle, Voyage Foods » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Preregister today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC How The Price of Chocolate's Key Ingredient Surged More Than 300% in 2024