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Rich Asplund

Cocoa Prices Decline as Q1 European Cocoa Grindings Falter

Ice the European Cocoa Association the Ivory Coast London NY Ghana ICCO

May ICE NY cocoa (CCK26) today is down -116 (-3.34%), and May ICE London cocoa #7 (CAK26) is down -62 (-2.43%).

Cocoa prices are sliding today amid concerns about global demand. The European Cocoa Association reported today that Q1 European cocoa grindings fell -7.8% y/y to 325,895 MT, a bigger decline than expectations of -6% y/y and the lowest for a Q1 in 17 years.

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