chocolate market on the mend

[Ivanhoe]

https://www.zerohedge.com/markets/cocoa-prices-face-worst-annual-collapse-six-decades-goldman-sees-tailwinds-hershey
 

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After nearly tripling last year and soaring to a record $13,000 a ton, cocoa futures are on track for their worst-ever annual decline, based on data going back more than six decades.

Cocoa futures in New York are set for a 50% decline if losses persist through the end of the year.

Prices are currently trading around $5,845 as of Friday's close, a stark difference from the $12,000 to $13,000 range in late 2024 and early 2025.

 

I blame Big Cocoa.

 

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Conversations so far are that any price relief for chocolate at the supermarket won't show up until the 2H26. We're watching Hershey next year...

Herzog also told clients to buy nicotine, energy drink, candy, and beauty stocks heading into 2026 as a stronger consumer backdrop emerges.

 

IIRC, tobacco and alcohol sales go up as GDP goes down.