🍫🍫🍫THE CHOCOLATE CRISIS — an UPDATED thread🆕🆕🆕: Retail chocolate prices are rising (and will increase much further, while shrinkflation will reduce sizes) after wholesale cocoa prices surged to an unthinkable all-time high of ***$10,000 a ton*** on Tuesday. 1/15 @opinion
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First, the magnitude of the rally: In nominal terms, cocoa prices have surged to >$10,000 – up from ~$2,500 a year ago, and ~$650 a decade ago. To put things into perspective: the previous record, which only fell in February after 46 years unbroken, was ~$5,500. 2/15 @opinion