July ICE NY cocoa (CCN25) Thursday closed down -144 (-1.62%), and July ICE London cocoa #7 (CAN25) closed down -95 (-1.47%).
Cocoa prices on Thursday settled moderately lower but remained above Wednesday's 1-week lows. Demand concerns are weighing on cocoa prices after chocolate maker Hershey Co. reported that Q1 sales fell -14% on Thursday and said it anticipates $15-$20 million of tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. On Wednesday, Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices.
