Chocolate's key ingredient cocoa has soared in price throughout 2024. The soft commodity reached $11,000 a ton for the first time ever, after costing suppliers less than $3,000 a ton two years ago. Factors like crop disease, El Niño, farm gate prices, and speculative market investment have all contributed to the classic sweet's historic run-up. Watch the video above to learn more about the causes of this lengthy move higher in price, and what's next for the industry.

Produced and Edited by: Christian Nunley
Graphics by: Christina Locopo
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images, Nestle, Voyage Foods

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How The Price of Chocolate's Key Ingredient Surged More Than 300% in 2024

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