Photo: Bill Zimmerman
By:Â Melaina Gasbarrino
Have you ever wondered just how precious cocoa, the lovely bean that creates the sweetest treats, really is? Well in today’s day and age, cocoa is costing the industry a whole lot of loot. Neena Rai and Leslie Josephs report that this tasty treat is recovering for an ‘all-time 3-year low’.
As bids were placed to purchase the beans for the 2012-2013 crops, just a couple of days ago it’s now that we realize just how precious this cargo is. The price of cocoa this quarter skyrocketed at $2,300 a ton on the ICE Futures US exchange. With a 3.4% increase from the last trading session, the rise in cocoa was all thanks to the somewhat stronger economy the US has seen at the start of the year. Read More