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Barchart
Rich Asplund

Cocoa Prices Sharply Lower as Global Trade War Sparks Demand Concerns

Ice ICCO London Ghana Hershey Ivory Coast Mondelez NY

May ICE NY cocoa (CCK25) Friday closed down -779 (-8.38%), and May ICE London cocoa #7 (CAK25) closed down -310 (-4.66%).

Cocoa prices Friday sold off sharply as global trade war fears 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.  Losses in London cocoa were contained Friday after the British pound (^GBPUSD) fell to a 1-month low, boosting cocoa priced in terms of sterling.

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