Cocoa has been named the best-performing commodity of 2024, leaving Bitcoin in the dust. While Bitcoin has captured attention all year, especially after it soared past $100,000 in December, cocoa's performance has been even more impressive.

Prices for cocoa, the main ingredient in chocolate, have nearly tripled since the start of the year. In January, cocoa futures were priced at around $4,000 per tonne. By mid-December, they had reached an eye-popping $12,700 per tonne. This huge price ...