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Barchart
Barchart
Rich Asplund

Cocoa Prices Plummet as Consumers Cut Chocolate Purchases

Ice Ghana London Ivory Coast NY ICCO

September ICE NY cocoa (CCU24) on Thursday closed down -530 (-6.55%), and September ICE London cocoa #7 (CAU24) closed down -423 (-6.58%).

Cocoa prices plummeted Thursday, with NY cocoa posting a 3-week low and London cocoa posting a 4-week low.  Global cocoa demand concerns hammered cocoa prices Thursday after Hershey, the world's fourth-largest chocolate producer, reported a quarterly sales drop and cut its full-year outlook due to weakening consumer demand for chocolate.  

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