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Barchart
Rich Asplund

Cocoa Prices Plunge Amid Weak Demand and Ample Supplies

Ice ICCO London NY European Union the International Cocoa Organization

March ICE NY cocoa (CCH26) today is down -276 (-6.184%).  March ICE London cocoa #7 (CAH26) is down -211 (-6.57%).

Cocoa prices extended their two-week-long plunge today, with NY cocoa posting a 2-year nearest-futures low and London cocoa posting a 2.25-year nearest-futures low.  Demand concerns are hammering cocoa prices as consumers continue to balk at the high price of chocolate.  On Wednesday, Barry Callebaut AG, the world's largest bulk chocolate maker, reported a -22% decline in sales volume in its cocoa division for the quarter ending November 30, citing "negative market demand and a prioritization of volume toward higher-return segments within cocoa."

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