2024 IFT FIRST In Review

2 tornados, 3 Days, 20,000 attendees, 70+ represented countries, hundreds of exhibitors, and an infinite number of conversations later, our Jogue team left Chicago with a mind full of inspiration and a stomach full of innovative new product samples hitting the market this year.

Even though we were busy catching up with our customers at Booth #3602 while IFT FIRST was in full swing, we made it a priority to get to the venue early each day to explore and note observations on trends so we can help add the most value to our customers for the months ahead. Speaking with industry experts and observing themes in the types of products being displayed led us to come up with the following insights covered in this post. If you didn’t get to attend this year, we’re bringing the highlights of 2024 IFT FIRST to you!

Local Bakeries Going CPG

Thanks to the soaring success of packaged baked goods for companies like Mrs. Fields, Crumbl, and Nothing Bundt Cakes, local bakeries seem to be jumping on the train as well. Consumers are constantly looking for small businesses to support. In fact, 47% of small businesses reported having a significant number of new customers at the end of 2023 and that number is expected to increase1.!

Regional bakeries are boasting bold packaging, natural ingredients, and fun flavors that large companies may struggle to execute. These types of products are sure to intrigue the Gen Z demographic as they come to hold more purchasing power in the industry.

Low Sugar, Bold Spice

Sugar reduction was another umbrella theme we noticed on the IFT floor this year. From allulose innovations to monk fruit to stevia-based sweets, the low sugar movement was in full effect this year! However, we did notice that erythritol was less present in many sugar replacement products displayed- likely due to the recent 2023 research paper that linked this sweetener to an increased cardiovascular disease risk.

Our favorite low-sugar innovations were no-sugar-added, allulose-based ice cream inclusions and several protein bars and shakes formulated with allulose. 78% of U.S. consumers find the “Better for You” movement in the Food & Beverage Industry appealing4. . Therefore, we think it’s important to not only help make these products more widely available, but also more delicious by encouraging the use of natural flavors and pure extracts!

Bold, spicy flavors have also proved that they are here to stay this year based on the vast array of novel chili usages and processing techniques we observed on the exhibition floor! We wrote about this trend on January 1, 2024, predicting exactly what we saw. Various types of fermented chili pastes, freeze dried ground chili varieties, and interesting, sweet-and-spicy (“swicy”) flavor applications validated our early predictions on this flavor trend this year. A few of our favorite samples we picked up included chipotle infused almonds, falafel veggie bites with harissa aioli, and spicy red curry peanut popcorn.

Sustainability

Sustainable ingredients and processing methods are still at the top of consumers’ minds heading into next year. We were pleased to see that the demand for environmentally friendly food & beverage options was reflected at the IFT FIRST event in a big way!

After seeing the new Regenerative Organic Certified label multiple times across the exhibit hall, it was clear that this more stringent label will likely replace the traditional USDA Organic certification in the future. The Regenerative Organic Certified label uses the USDA Organic certification requirements as a baseline while also upholding strict standards for soil health, animal welfare, and social justice.

If you’re a tea drinker, you would have been as thrilled as we were to discover Westrock Coffee’s new Coffee Leaf Tea. Coffee leaves are typically discarded but contain as many antioxidants as green tea leaves! This new beverage features this upcycled ingredient to create a delicate, perfectly balanced tea. Although it was delicious in its raw form, elevating this beverage with peach, passionfruit, or blueberry flavor would take it to a whole new level!

Functional & Fiber

Finally, we would be remiss not to mention the 2 F’s: Functional and Fiber. These types of products made up a vast majority of the show this year. Ashwagandha has been on the rise for the past 5 years, but this food ingredient was around every corner of the exhibit hall this year. One of our Jogue sample beverages, the Strawberry Guava Splash with Lemon Balm & Ashwagandha, even featured it! Other functional ingredients we observed included chaga, lion’s mane, & freeze-dried superfood powders.

Novel types of fiber seemed to be a huge trend at the 2024 IFT FIRST event as well. Following the gut health movement, consumer demand for high-fiber foods has grown significantly in recent years. A recent Mintel report found that 86% of consumers seek convenient, high fiber foods and beverages4. . Enhanced technology around incorporating fiber seamlessly into CPG products is a promising new frontier for the “Better for You” movement mentioned earlier. A few standouts in this category include a waffle made with bamboo fiber, cereal made with various types of pulse flours, and sugar-free chocolate coated puffed chickpea bites.

Come See Us Next Year!

We already have our booth reserved for 2025 IFT FIRST in Chicago! Make sure to come to our full-service team of flavor experts for your next custom, made-to-order flavor solution.

Can’t wait that long?

Contact us through the “Contact Us” form on our website OR email sales@jogue.com today!

References:
1. https://fitsmallbusiness.com/small-business-statistics/
2. https://www.foodnavigator-usa.com/Article/2024/01/02/2024-trends-to-watch-from-functional-foods-and-clean-label-to-value-hunting-and-increased-use-of-ai-to-drive-promotions-and-efficiencies
3. https://www.foodbeverageinsider.com/fiber/fiber-maintains-popularity-through-the-years

 

The Vanilla Masterclass

July Trend Report

Sweet, toasty, musky, floral, earthy, caramelly, smoky: common adjectives used as an attempt to capture the essence of vanilla. Vanilla is anything but boring, which is likely why it’s continued to reign at the very top of almost everybody’s list of favorite flavors. Because of its complexity, diversity, and long-time use in the Food and Beverage Industry, vanilla is sure to remain a prominent flavor trend for years to come!

Vanilla won’t be going anywhere anytime soon, so it’s important that your next vanilla flavored product stands out among the rest. Our flavor experts at Jogue have come together to bring you a true masterclass in vanilla so you can be informed about what to look for in a vanilla extract or flavor.

Source Matters
Vanillin is the main flavor component in vanilla bean pods, but there are over 250 other compounds that contribute to its overall flavor. The identity of these other molecules depends on the type of soil and climate that vanilla is grown in. This is why vanilla is often proudly labeled with the region it came from (i.e. Madagascar Vanilla). Therefore, it’s important to be informed of where your vanilla is sourced from so you can achieve the desired flavor profile:

  • Madagascar Vanilla: 80% of the world’s supply of vanilla comes from Madagascar. Since this commodity is not native to Madagascar, vanilla grown in this region is pollinated by hand by farmers. Madagascar vanilla is prized for harboring a luscious, sweet flavor profile due to the tropical climate and soil biodiversity. These 2 factors make Madagascar vanilla premium in both price and quality!
  • Indonesian Vanilla: Indonesian vanilla, especially from Papua New Guinea, has a higher vanillin content than other varieties. Gourmet Indonesian vanilla beans are highly sought after by chefs that seek their unique woody/smokey notes.
  • Mexican Vanilla: Vanilla is native to Mexico and still pollinated naturally despite modern innovation. Vanilla pods are processed traditionally as well by being allowed to dry and ferment in the sun for 20 days. The long fermentation process leads to complex flavor development. Due to the dry, hot Mexican climate, Mexican vanilla is described to have notes of a toasted, dry chili type flavor.
  • Indian Vanilla: Vanilla from India is especially delicate and botanical in flavor. Due to the less complex soil present in this region, Indian vanilla beans have a less nuanced flavor profile compared to other varieties.

At Jogue, we source our vanilla from Madagascar and Indonesia to ensure our customers that they are receiving the most premium vanilla products available on the market. While pure vanilla extracts are our specialty, we also offer one-of-a-kind vanilla flavors to perfectly suit any food or beverage product. Our full line of sustainable vanilla products include:

  • Fair Trade Pure Madagascar Vanilla Extract
  • Fair Trade Pure Indonesian Vanilla Extract
  • Fair Trade Organic Pure Vanilla Extract
  • Natural Vanilla Flavors
  • Natural Vanilla WONFs
  • N&A Vanilla Flavors
  • Artificial Vanilla Flavors (Economical Category III)

Sustainability
Only 21% of vanilla products on the market are certified Organic or Fair trade. At Jogue, we believe that sustainable farming matters. We exclusively source our vanilla beans from small farms associated with the Sustainable Vanilla Initiative (SVI). The SVI is a voluntary industry initiative, which aims to promote the long-term stable supply of high-quality, natural vanilla, that is produced in a socially, environmentally and economically sustainable way.
Jogue makes a substantial contribution annually to support sustainability efforts of the SVI and other non-profit organizations. Our contribution supports the livelihood of vanilla farmers and works to make progress in improving the governance, traceability, labor rights associated with this commodity.

Extract vs. Flavor
Our team of flavor experts are committed to helping you find the best vanilla product for any application. While the world of vanilla can seem overwhelming at first, most products on the market can be classified as an “extract” or “flavor”.

All extracts are flavors, but not all flavors are extracts. Extracts are set apart in the flavor universe due to the process by which they are created. Vanilla extract, by definition, must be at least 35% alcohol with a minimum of 100 grams of vanilla beans per liter. An extract is obtained by soaking the natural raw material- in this case, vanilla- in an alcohol solution. Vanillin and most of the other flavor compounds in vanilla beans are soluble in alcohol, and leak into the solution. Over time, the alcohol solution becomes the rich, flavorful liquid we know as vanilla extract.

In contrast, a Flavor is created by manually inoculating a solution of either alcohol, propylene glycol, or glycerin with the isolated flavor components to mimic the flavor of a true extract. While this is a much faster, cheaper process, much of the nuance and complexity of the raw vanilla bean can be lost by not extracting the flavor components directly from the material slowly over time. Additionally, we have yet to identify most of the other 250 flavor molecules in vanilla that contribute to the overall flavor of vanillin. This makes it difficult for even the most experienced flavor chemists to match a flavor to a pure extract perfectly.

Trending Vanilla Applications

  1. Gooey Butter Cake: An iconic St. Louis dessert that combines yellow cake with a cream cheese-butter mixture. Sprinkled with powdered sugar and served in small slices, it has a delightful texture and taste. The classic gooey butter cake recipe relies on a rich, premium vanilla extract to elevate its simple ingredient list.
  2. Paletas de Leche: Global desserts are trending this vibrant frozen treat is no exception! These Mexican ice pops are made of flavored juice & cream, often with fruit chunks, encased on a stick. Vanilla adds a sweet, creamy nuance to the cream-based versions.
  3. Over-the-Top Oversized Cookies: Thanks to Levain Bakery, Costco, Crumbl, and Insomnia, more is more when it comes to crazy mega-cookies. New cookie flavor concepts weekly with the intent to be the next social media trend. A complex, premium vanilla extract can make or break any cookie flavor, whether its traditional chocolate chip, maple bacon, or red velvet.
  4. Basque Cheesecake: A modern twist on French-style cheesecake, characterized by its deeply browned, shatteringly crisp top. The custard-like center combined with the crunchy crust creates a unique and delicious dessert. A premium pure vanilla extract is key to making this dessert unforgettable.

Resources:
authenticproducts.eu
https://www.idhsustainabletrade.com/sustainable-vanilla-initiative-svi/
https://agriospice.com/a-guide-to-8-different-vanilla-bean-varieties-and-their-flavor-profiles/#west-indian-vanilla
FDA CFA section 169.175 subpart B

June Trend Report

Bold & Bright

The beginning of a new season always comes with a sense of excitement. Is it still appropriate to blame summertime giddiness associated with June on that feeling of freedom on the last day of school? Nostalgia for childhood flavors and foods has been a noticeable theme the past few months in the Food and Beverage industry.

However, we anticipate the nostalgic feelings of freedom and endless childhood energy to be translated into experimental flavors this year. Bring on the sunshine, family vacations, loud flavors, and exotic fruits!

Bold Pairings

Snack food flavors have been extra bold heading into Summer 2024. A few of these “shock flavors” include Hidden Valley Ranch Ice Cream by Van Leeuwen, pink lemonade-flavored Kit Kats by Hershey, Sour Patch Kids Oreos, and Rooty Tooty Fresh n’ Fruity potato chips (designed to taste like strawberry-topped pancakes with a hint of bacon) by Lay’s & IHOP3. The “Bold & Bright” flavor trend likely piggybacks off the noticeable increase in experimental purchasing behavior among consumers. According to GlobalData’s TrendSights framework, food received the most revenue from trend investment while non-alcoholic beverages showed the highest growth4. Therefore, the Food & Beverage Industry especially should capitalize on these consumer insights with bold flavor pairings!

Bold flavor pairings are an innovative way to draw attention to your brand, drive consumer interest, and ultimately remind people of how great their old favorite flavors are to purchase after the shock flavor’s virality begins to fizzle out.

Heating Up

Interest in bold, spicy flavors is expected to continue to increase this summer. Data from the National Association of Convenience Retailers shows that spicy is the top flavor in the salty snacks category. In 2021, 66% of consumers surveyed expressed a preference for spicy and bold flavors, compared to only 25% in 2020. Millennials and Gen Z show the strongest preference for new tastes, with 45% indicating a preference for snacks with spicy flavors2.

Especially during warm summer months, spicy flavors are best paired with familiar sweet flavors- such as strawberry, mango, or pineapple. The popularity of botana sauces and chili oils is also on the rise in recent months, featuring specialty pepper varieties that bring in their own unique inherent flavor profile1.

A few of our favorite spicy flavors include:

  • Watermelon Habanero
  • Chili Mango
  • Guajillo Chili
  • Jalapeno Lime
  • Smokey Chipotle

Going Global

Food products that feature exotic, global flavors are expected to boom this summer! With the widespread use of social media and increase in experimental purchasing patterns among consumers, the globalization of ideas, flavors, and trends is becoming the new normal. According to the Specialty Food Association (SFA) Trendspotter Panel, Asian and African flavor profiles will be the most sought-after in the Food & Beverage Industry for the coming months5. Both Asian and African flavors tend to feature full-bodied, satisfyingly rich notes of umami with obscure regional ingredients.

Additionally, exotic fruit flavors are also expected to trend for the Summer season. Dragon fruit has piqued the interest of nearly six in ten shoppers, while guava has caught the attention of five in ten. More obscure flavors like ube, tamarind, and guanabana are also on consumers’ radar. Latinx shoppers in particular show a strong interest in tropical fruit flavors. For example, 46% of Latinx shoppers are intrigued by tamarind, and 31% have direct interest in guanabana6.

  • Guava Strawberry
  • Yuzu
  • Lychee
  • Pandan
  • Gochujang

References

1. https://hospitalityinsights.ehl.edu/food-and-beverage-industry-trends#:~:text=The%20top%20food%20and%20beverage%20trends%20revealed%201,or%20ODWs%208%20Alternative%20caffeine%20boost%20More%20items

2. https://www.foodbusinessnews.net/articles/19904-slideshow-spicy-sensations-abound-in-recent-innovations

3. https://www.yahoo.com/lifestyle/sour-patch-kids-oreos-peeps-040529614.html?

4. https://www.globaldata.com/store/report/consumer-novel-and-experimental-trend-analysis/

5. https://www.grandecig.com/blog/top-food-beverage-industry-trends

6. https://advantagesolutions.net/news/summer-2024-flavor-trends-tropical-and-swicy/

 

 

Seeking Little Luxuries

If we’re being honest with ourselves, the phrase “treat yourself” is timeless. We don’t see it going out of style any time soon after observing consumer purchase patterns. The demand for luxury flavors has increased significantly in recent years.

Some speculate that the luxury flavor trend is due to habits people have created over the Pandemic, where little luxuries served as a replacement for fancy dinner reservations. A recent report found that 11.8% of “start-up” households- defined as falling into a lower income bracket or age demographic- were making a financial trade off in other spending categories to purchase premium, specialty foods1. This observation was also confirmed in a recent consumer study published by Zion Market Research that projects the Specialty Foods Market to have an CAGR of 5.5% between 2022 and 20282.



Our team of flavor experts think about luxury flavors as being those that are inherent in rare plant/animal species OR those that encompass the flavors of highly technical culinary dishes, expensive due to the time and energy it takes to create them. Both categories of luxury flavors are sure to stand out to consumers on retail shelves!

Natural Luxury Flavors
We consider “natural” luxury flavors to be those naturally found in rare raw ingredients. Many of these plant and animal species carry unique flavors that consumers associate with specialty foods and drinks. Natural luxury flavors are best paired with those that are down-to-earth and familiar among consumers to ensure that one doesn’t outshine another when paired together.

Many rare plant/animal ingredients can have a short shelf life and delicate flavors that make it difficult to extract by using the raw material in a food product directly. These highly sought-after flavors can be easily compromised during processing and packaging operations. Therefore, we recommend turning towards premium extracts and concentrated flavors instead to ensure flavor stability and consistency in a food or beverage product! A few of our favorite natural luxury flavor applications include:

  • Ruby Chocolate Crème filled Pistachio Croissants
  • Saffron Curry Sauce
  • Dragonfruit Energy Drinks
  • White Truffle Potato Chips
  • Manuka Honey & Hazelnut Mousse

Crafted Luxury Flavors
Unlike their natural counterparts, we define “crafted” luxury flavors to be those that are developed by unique, highly technical, or time-intensive ingredient preparation methods. In other words, these types of luxury flavors come exclusively from the extra time and attention they receive. For example, a humble grape is not considered to be a luxury commodity on its own. However, when grapes are purposefully grown in an exclusive location, fermented using only highly regulated methods, and aged for a minimum of 15 months, champagne is created. Another great example of a crafted luxury flavor can be found in Caciocavallo Podolico cheese. Not only does the raw cream need to come from a specific breed of Alpine cattle, but it must also be processed within 24 hours and aged for 6 years to acquire a complex flavor profile that is often described as resembling aromatic herbs, such as wild fennel, licorice and myrtle3. Crafted luxury flavors can be notoriously difficult to incorporate into food and beverage products due to their complexity. Cooking, fermenting, aging, roasting, etc. produce a wide spectrum of components that contribute to the finished flavor of a crafted dish. It often takes extensive analysis and precision that would be hard to achieve if an expertly formulated extract or flavor is not used. We’re here to help! A few of our favorite crafted luxury flavor application include:

  • Champagne Gelato
  • Caciocavallo Podolico Fondue Sauce
  • Foie Gras Flavored Vegetable Broth
  • Aceto Balsamic Vinegar Salad Dressing
  • Crème Brulee Cream Cheese Frosting

References

1. https://www.foodnavigator-usa.com/Article/2021/05/04/Demand-for-premium-rises-It-s-not-just-wealthy-people-who-are-buying-more-expensive-stuff-IRI-says

2. https://www.zionmarketresearch.com/news/global-specialty-food-ingredients-market

3. https://www.finedininglovers.com/article/italian-delicacies-caciocavallo-podolico-cheese

 

Simplifying for Spring

Simple should never be equivalent to boring, if done correctly. Natural, earthy flavors are projected to be more popular than ever before among consumers looking for simplicity this Spring. Between Spring cleaning projects, fresh April showers and honoring Earth Day, this month is sure to get you in the mood for simple natural flavors to match.

While new flavors and experimental flavor combinations are fun to try, simple flavors are a great way to bring balance to these foods. We project the popularity of earth-inspired, natural flavors in the Food & Beverage Industry to soar this year as health conscious consumers begin to expand the array of earthy flavors they seek through the increased consumption of novel vegetables, exotic herbs, and fresh fruit being observed in the market.

Earth Inspired

Think matcha, truffle, ube, coffee, mushroom. Anything that comes from the ground or grown on a plant that has the bitter, umami notes that we often refer to as “earthy” is included in our “Earth Inspired” flavor category. Most of these flavors are acquired tastes that grow to become adored over time. Whether it be human curiosity or stubborn tenacity, earth inspired flavors manage to continue to become increasingly popular year after year.

Earthy flavors are often used to complement other flavors. The savory complexity they possess can balance out buttery seafood, salty cheeses, and even sweet desserts in a way that keeps you coming back to uncover new layers of flavor with every bite. A few of our favorite ways to incorporate earth inspired flavors into a food or beverage product include:

  • Ube Ice Cream
  • Matcha Cupcakes
  • Coffee Cream Sandwich Cookies
  • Truffle Infused Olive Oil
  • Porcini Mushroom Bone Broth

Natural & Fresh

Think vanilla bean, citrus, mint, cucumber, cocoa, almond, garlic. Each of these simple flavors have remained popular over generations due to the refreshing profile they can bring to any food or beverage item. Numbers don’t lie; market data clearly indicates that simple, natural flavors will continue to reign supreme for the next few years. The Global Vanilla Market alone is projected to grow at a CAGR of 8.13% between 2024 and 2029 to reach over $1 billion in value by the end of this year1.

Fresh flavors are also expected to become increasingly popular as consumers become more health conscious. As familiarity with healthy foods such as fruits, vegetables, beans, and nuts increases, consumer demand for products that contain these types of natural flavors is sure to increase as well. A few of our favorite ways to use our premium fresh flavors include:

  • Cucumber Mint Popsicles
  • Black Garlic Infused Olive Oil
  • Vanilla Bean Protein Shakes
  • Toasted Almond Croissants
  • Mango Ice Cream

Resources

1. https://www.mordorintelligence.com/industry-reports/global-vanilla-industry

Flavor Report: Cocoa Crisis

Dramatic headlines aside, chocoholics across the world are refusing to give up beloved chocolate flavored products. However, if the global cocoa supply continues to drop at the rate that it has been since January, chocolate may become a rare commodity in the Food & Beverage Industry as prices skyrocket. We’re giving you the latest insights on the cocoa market so you can make the best decisions regarding your chocolate flavored products in the months to come.

Origin of the Issue

Most of the world’s supply of cocoa beans comes from West Africa, with a moderate quantity also sourced from Brazil, Ecuador, and Indonesia. In fact, approximately two-thirds of the world’s cocoa production occurs in the West African nations of Ghana and Ivory Coast. Since the beginning of the year, this region has experienced disruptive weather patterns amplified by climate change and rising freight costs. A CNBC article reports that the El Nino weather phenomenon observed in West Africa this year may result in drought-like conditions that may permanently affect the yield of cocoa beans able to be produced there1.

Cocoa harvests occur only twice per year, with the “main harvest” occurring from October to March. Since it rained more than usual in Western Africa for the last few months of 2023, several plant pathogens- such as black pod disease & swollen shoot virus- were able to spread between farms more easily. Additionally, a powerful cyclone ravaged Brazil right before harvest season last year. These factors alone already threatened the overall cocoa output this year and further exasperated the global cocoa supply crisis we are currently witnessing.

Additional root causes of the cocoa crisis include the global fertilizer shortage and economic paranoia that stems from the 2022 war in Ukraine. Because cocoa is a crop that requires a significant amount of fertilizer to grow commercially, the reduced amount of fertilizer being exported greatly impacted the overall yield of existing cocoa trees before unexpected weather had an impact. Europe is also the world’s leading importer of cocoa beans. When analysts started to predict that the cost of oil, coal, and gas would spike due to the Russian invasion, chocolate makers began placing fewer orders for cocoa out of financial fear4. As soon as fear subsided, there was a boom in demand for cocoa again, but with a more limited supply than ever before.

How to Navigate the Changing Cocoa Market

As a result of the changing weather patterns and shipping challenges, the price of cocoa has spiked by more than $2,000 per metric ton since January, reaching a record high of over $7,000 according to data released by Bloomberg on March 12 and as shown in the figure below5. Since cacao trees take years to mature enough to produce cocoa beans, these high prices aren’t expected to return to baseline anytime soon. Paul Davis, President of the European Cocoa Association, estimates that it may be another 1.5 to 3 years before chocolate producers can relax again.

Source: McKeany-Flavell

While passing the cost on to consumers is one option to navigate the ominous climate of the cocoa market, it is important to consider other strategies to keep your chocolate flavored food or beverage product in line with competitors.

  • Diversification: Companies should consider diversifying their sources of cocoa to different regions of the world to mitigate the risk of supply disruptions from unfavorable weather pattern changes.
  • Sustainability initiatives: Engage in cocoa farmers that have sustainability initiatives in place to ensure that the long-term viability of cocoa crops is being supported.
  • Market Analysis: Staying up to date on cocoa market reports every month can help companies plan accordingly and re-evaluate where costs could be reduced in other ingredients.
  • Innovation: Supplement 100% real cocoa with a chocolate flavor or extract to enhance the rich, decadent profile of your chocolate product while using less of the actual commodity.

We proudly use fair-trade, organic cocoa beans to create our robust, perfectly sweet and nutty chocolate flavors and extracts. Reach out to us today for more information on our premium chocolate flavors and how Jogue can help you cut soaring cocoa costs while retaining flavor.

Resources:

1. https://www.cnbc.com/2024/02/08/cocoa-prices-surge-to-all-time-highs-as-bad-weather-hurts-west-africa-crop-yield.html
2. https://markets.businessinsider.com/news/commodities/chocolate-west-africa-cocoa-beans-supply-crunch-prices-suppliers-commodities-2024-2
3. McKeany-Flavell. “Cocoa and Chocolate Monthly Update”. 2024, Feb.
4. https://time.com/6291600/cocoa-chocolate-high-price-russia/
5. https://www.bloomberg.com/news/articles/2024-03-12/cocoa-rises-above-7-000-a-ton-for-first-time-in-new-york