US /

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
Chocolate So Cheap You're Almost Obligated to Binge
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)

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.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.