That's the tune your sweetheart may be singing as everything from inflation and Hurricane Katrina to civil war in West Africa are sending chocolate prices rising and sales falling this Valentine's Day (NY POST)The best cocoa comes from the Ivory Coast, where this year's crop is expected to be less than forecast, according to Ann Prendergast of Man Financial. (NY POST)
"Chocolate manufacturers have to pay up if futures keep going up," she says, citing the $1,350- to $1,625-per-ton range in the Nybot's May futures contract. (NY POST)
Brazil's diversion of most of its sugar crop to domestic ethanol production is squeezing supplies, too. Hurricane Katrina knocked out two sugar refineries that supply Russell Stover's Texas plant and sent the company to the cash market. (NY POST)
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