– Cocoa Hyperinflation Accelerates As Grindings Show No Demand Destruction:
Cocoa hyperinflation is insane. The latest data from the futures market shows that cocoa prices in New York surged above the $12,000 per ton level today as the pace of processing in factories remains robust. This indicates that demand destruction has yet to emerge despite the massive multi-month parabolic price surge.
Cocoa futures surged 18% in the last two days to a record high of $12,125. Prices are up more than 190% year-to-date and are in breakout territory.
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