You probably haven’t even noticed the Great Chocolate Crisis of 2024, but it is real and some of us are very concerned! The wholesale price of cocoa, which comes from the cocoa bean, is the main ingredient in chocolate and has skyrocketed in price!When the Spanish Conquistadors came across cocoa 500 years ago it was use by the Aztecs of Mexico in a drink combined with hot peppers—Talk about “hot coco!” It was called "the food of the gods." On the Thornton Necessity Index, it comes in third place behind Electricity and Gasoline. Americans on average consume it every day, or at least wished they did.Twenty years ago, the price of cocoa was about $1,500/metric ton. Wholesale cocoa is traded in the “futures market” where chocolate makers contract with cocoa suppliers for trades in the near
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