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Beware chocoholics: Cocoa prices are on the march. Prices on the wholesale market recently jumped to their highest levels in 10 months.
You can blame El Niño the next time prices in the vending machine climb. Investors are betting the weather pattern could hurt production. The market is also worried about upcoming elections in Ivory Coast, a major cocoa producer.
Barclays Capital analysts recently forecast cocoa prices could jump to an average $3,250 per ton in 2010. Oh, yeah: Sugar prices are rising too.
