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Barchart
Rich Asplund

Cocoa Prices Finish Sharply Lower on Demand Destruction Concerns

Ice London Ivory Coast

May ICE NY cocoa (CCK24) on Tuesday closed down -758 (-6.89%), and May ICE London cocoa #7 (CAK24) closed down -531 (-5.79%).

Cocoa prices on Tuesday sold off sharply, with London cocoa falling from a new record high.  Long liquidation pressure emerged Tuesday on concern about global demand destruction from record-high prices.   Q1 grinding reports are expected this week from Asia, Europe, and North America, and speculation has increased that the reports will show that record-high prices are starting to crush cocoa demand.  

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