"Cocoa Prices Surge to $10,000, Easter Treats to Get Pricier"

Cocoa futures have surpassed $10,000 per metric ton due to poor crops in key West African growers, leading to concerns about a third consecutive annual supply deficit. The rally is also driven by financial market pressures and fears of sourcing enough beans. The surge in cocoa prices is expected to result in pricier chocolate, impacting chocolate manufacturers' profits and potentially leading to smaller or less chocolate-filled products for consumers. The upcoming mid-crop harvest in West Africa is anticipated to shrink, exacerbating the tight supply situation, while efforts to ramp up production in other regions may take years to alleviate the strain on global supplies.