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Barchart
Barchart
Rich Asplund

Cocoa Prices Tumble as Chocolate Makers Signal Slowing Demand

March ICE NY cocoa (CCH25) Friday closed down -76 (-0.75%), and March ICE London cocoa #7 (CAH25) closed down -92 (-1.15%).

Cocoa prices Friday added to this week's sharp losses and fell to 2-month lows.  Cocoa prices have been under pressure on signs of slowing cocoa demand this week.  Chocolate maker Hershey said Thursday that high cocoa prices are forcing the company to reformulate recipes by replacing cocoa with other ingredients.  On Tuesday, chocolate maker Mondelez International pointed to a potential slowdown in chocolate demand when CFO Zarmella said, "We are seeing signs, particularly in parts of the world like North America, where cocoa consumption is coming down."

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