Vontobel Sees Cocoa Hitting $8,000 a Ton on El Niño Threat

Vontobel forecasted cocoa prices could reach $8,000 per ton, up 50% from current levels, citing concerns about El Niño weather patterns affecting West African production. The asset manager cited disease affecting cocoa crops in the region as a factor in its outlook. Cocoa prices have risen significantly in recent years due to supply pressures in major producing countries.

• Bloomberg — Vontobel Sees Cocoa Hitting $8,000 a Ton on El Niño Threat

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