Global Courant
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Cocoa futures hit highest level in nearly 7 yearsCathie Wood adds more than $20 million in Coinbase shares to her ARK Innovation ETFJeffrey Gundlach sees greater chance of recessionAccording to the trader, signs are emerging that market leadership is broadeningTreasury yields are falling slightly as investors weigh expectations for the economy and Fed policyJapanese stocks plummet, reversing gains from previous sessionsChina’s exports plunge more than expectedThe Australian economy grew by 2.3% in the first quarter, the lowest growth in 18 months.European equity markets open mixedStitch Fix profits at smaller than expected lossDave & Buster’s rises on profitStock market today: live updates
Cocoa futures hit highest level in nearly 7 years
Cocoa Futures (SEP) reached a high of $3,096 per ton. The commodity traded at its highest level since August 19, 2016 during Tuesday’s trading session, when cocoa traded as high as $3,120.
Many experts say climate change is partly responsible. Some forecasts show that the temperature in Ivory Coast will rise by 3.8 degrees by 2050, drying out soil and plants. Almost 90% of cocoa land in Ivory Coast and Ghana could be unsuitable for cultivation, according to estimates.
Hershey announced it was raising the prices of all its products in February 2022 due to rising ingredient costs.
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