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- Cocoa prices are hovering around 45-year highs as futures trade over $4,000 per metric ton.
- Bad weather and concerns over crop disease led to lagging harvests, Bloomberg reported.
- Similar factors have also dragged down the supply of sugar, driving its price up.
Cocoa prices are trading at levels not seen in 45 years, as a supply crunch in the commodity drags on for another year.
Prices dipped on Monday, but a string of earlier gains helped push US cocoa futures above $4,000 per metric ton, contributing to an appreciation of over 40% for the year.