Cocoa Hits New Record as North America Grinds Defy Expectation.

Cocoa futures in New York have reached a new record high due to the steady pace of processing in chocolate factories, despite a global supply shortage and high prices. The most-active contract rose by 6.2% to $11,722 per metric ton, with North America experiencing a 4% increase in cocoa processing during the first quarter compared to the previous year. However, experts believe that the recent surge in futures is not yet being felt throughout the supply chain, as most of the beans used were purchased at lower prices from existing inventories. [Extracted from the article]