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Barchart
Rich Asplund

Cocoa Prices Plummet as Hershey Sees Chocolate Demand Weakening

Ice Hershey Ghana London Ivory Coast NY ICCO

September ICE NY cocoa (CCU24) today is down -530 (-6.55%), and September ICE London cocoa #7 (CAU24) is down -411 (-6.39%).

Cocoa prices today are plummeting, with NY cocoa falling to a 3-week low and London cocoa dropping to a 4-week low.  Global cocoa demand concerns are hammering cocoa prices today 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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