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International Business Times
International Business Times
Business
Carla St. Louis

Cocoa Prices Hit Record High, Signaling Bad News For Chocolate Lovers

In this photo illustration, Hershey milk chocolate candy bars are displayed in San Anselmo, California. (Credit: Justin Sullivan/Getty Images)

Cocoa futures continue to rise to new records, with experts forecasting that the supply demands will worsen the increasing costs for chocolate.

Cocoa futures rose as much as 5.5% to $11,925 a ton on Monday. It broke April's record price of $11,722. Prices have nearly tripled causing chocolatiers like Hershey Corporation and Lindt & Spruengli to raise prices.

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