March ICE NY cocoa (CCH26) today is down -108 (-2.12%). March ICE London cocoa #7 (CAH26) is down -66 (-1.77%).
This week's slump in cocoa prices continued today, with NY cocoa sinking to a nearly 2-year low and London cocoa falling to a 1.5-month low. Signs of weak global cocoa demand are hammering prices. The European Cocoa Association reported today that Q4 European cocoa grindings fell -8.3% y/y to 304,470 MT, a bigger decline than expectations of -2.9% y/y and the lowest for a Q4 in 12 years.
