Chocolate So Cheap You're Almost Obligated to Binge

Cocoa futures are at 3-year lows
By Polly Davis Doig,  Newser Staff
Posted Dec 12, 2016 4:43 PM CST
Ricardo Trillos, owner of Cao Chocolates, holds a handful of roasted cocoa beans from Patanemo, Venezuela, Tuesday, Feb. 10, 2015, in Miami.   (AP Photo/Lynne Sladky)
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(Newser) – Packing on the holiday pounds just got cheaper, reports Bloomberg, with cocoa futures at a three-year low driven by a suddenly abundant supply and waning demand in what one portfolio manager calls "a double punch for cocoa." The former is due to rains in West Africa, which produces two-thirds of the global cocoa supply and was until recently drought-stricken; that scarcity drove candy manufacturers to cut the amount of cocoa it included in products and substitute fillers. That, along with a more health-conscious consumer turning to treats like yogurt, simultaneously cut demand, and here we are. Chocolate prices dropped 16% in the four weeks ending Nov. 6. Analysts say the lower prices are probably here to stay. Another potential bonus for chocolate lovers, per Consumerist: Candy manufacturers may up the cocoa in their products now that it's not so pricey, making for a purer product. (Read more cocoa stories.)

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