Cocoa Beats Bitcoin with Triple-Digit Gains, Supply Shortage and Price Hikes

Cocoa's 186% gain in the last 12 months has exceeded bitcoin's surge, driven by lower crop yields, political instability, and imbalanced supply. The S&P GSCI Cocoa index is up 206% in the last 12 months, with supply shortfall of about 374,000 tons. Chocolate prices have increased by 11.6%, and major companies warn of potential price hikes due to cocoa supply shortage. Cocoa's impressive rally has outpaced bitcoin, attributed to the approval of spot ETFs and the upcoming supply shock triggered by the halving.