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Chocolate lovers are facing further price rises after an already expensive Easter, as the price of cocoa hit a new record high.
The cocoa bean rose above $10,000 per tonne for the first time on world commodity markets yesterday, with prices already doubling by 2024.
This is the second time this week that prices have hit a new record, with cocoa rising to $9,000 on Monday.
It comes as chocolate producers rush to secure supplies of the bean as crop diseases and poor weather conditions hit harvests in West Africa.
The two largest, Ivory Coast and Ghana, have been hit by both heavy rain and dry heat.
Crop failures: Women from Ivory Coast process raw coca beans. Prices for the beans rose above $10,000 per ton for the first time on global commodity markets
On the stock market, the FTSE 100 rose 0.17 percent, or 13.39 points, to 7930.96. The FTSE 250 rose 0.84 percent, or 164.11 points, to 19,777.64.
Shares of Revolution Bars tumbled as it warned it could put itself up for sale amid growing uncertainty about its future.
The company, which is behind brands such as Revolucion de Cuba, has been hit hard as young people cut back on nights out due to the cost of living crisis.
In a statement to the stock market yesterday, Revolution said it is weighing various options as it fights for its survival.
This also includes tapping investors for new funds to stay afloat or a sale. The shares, which listed for the second time in March 2015 at a price of 200 cents, fell 51.7 percent, or 1.5 cents, to 1.4 cents.
Rolls-Royce was on the rise after Morgan Stanley raised its target price from 400p to 520p.
Shares in the jet engine maker, which have more than quadrupled in value since boss ‘Turbo’ Tufan Erginbilgic took charge in January last year, rose 1.6 per cent, or 6.9p, to 428p.
Elsewhere, Smiths Group CEO Paul Keel is stepping down after less than three years in the role.
He will be replaced by company veteran Roland Carter, who has been with the engineering group for thirty years.
The shake-up came as Smiths reported record half-year orders and a 3.9 percent rise in sales to £1.5 billion.
The company will buy back £50 million worth of shares from investors between now and the end of September. Shares rose 2.2 percent, or 36p, to 1690p.
William Hill owner 888 is changing its name to Evoke as new CEO Per Widerstrom tries to end a year of scandal after the company was hit with a record £19 million fine by regulators in 2023. Shares rose 6.2 percent, or 5.2p, to 89p.
An update from Bellway fueled hopes that the green shoots of recovery are appearing in the housing market as mortgage rates fall.
The company says it is more optimistic after a difficult first half that saw sales fall 29.6 percent to £1.27 billion in the six months to the end of January.
Profits fell 61.6 percent to £117.4 million.
But it said bookings in the past six weeks were up 20 percent compared to the same period last year. Shares rose 2.1 percent, or 56p, to 2688p.
Fellow builder Vistry struck a deal with housing association Abri to build 1,500 homes in Arundel at the Ford Airfield Site. The shares added 1.4 percent, or 17p, to 1231p.