
May ICE NY cocoa (CCK25) Monday closed down -459 (-5.39%), and May ICE London cocoa #7 (CAK25) closed down -372 (-5.87%).
Cocoa prices on Monday sold off sharply for a second session, with London cocoa posting a 4-3/4 month low. Global trade war fears have sparked risk-off sentiment in asset markets and undercut cocoa prices. Also, there is concern that consumer demand for cocoa and cocoa products will decline as the global trade war escalates and tariffs boost already-high cocoa prices.