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Rich Asplund

Cocoa Prices Tumble on Signs of Weak Global Demand

Ice ICCO London Ivory Coast NY Ghana Malaysia

December ICE NY cocoa (CCZ25) today is down -85 (-1.44%), and December ICE London cocoa #7 (CAZ25) is down -98 (-2.33%).

Cocoa prices are sliding today, but remain above the significant lows reached on Monday. Concerns about weak global cocoa demand are weighing on prices today. Malaysia's Q3 cocoa grindings dropped 35% y/y to 60,780 MT. The remainder of Q3 global cocoa grinding numbers are expected to be released later this week and are expected to show that cocoa demand remains constrained.

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