Cocoa extended its surge — surpassing $9,000 a ton for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans. Futures are up about 50% this month alone and have more than doubled already this year. Poor harvests on the back of bad weather and crop disease in West African growers, where most of the world’s cocoa is grown, and little sign of production relief elsewhere have left the industry in a bind. The rally has sent prices toward $10,000 — a level that seemed unthinkable only a few months ago — and even made cocoa more expensive than bellwether industrial metal copper. ... (full story)