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Barchart
Barchart
Rich Asplund

Cocoa Prices Tumble on Weakness in Global Demand

Ice London Cocoa NY Cocoa the European Cocoa Association Ivory Coast CFTC ICCO London United States

March ICE NY cocoa (CCH25) today is down -280 (-2.59%), and March ICE London cocoa #7 (CAH25) is down -187 (-2.14%).

Cocoa prices today retreated to 1-week lows on signs that high prices are causing demand destruction for cocoa.  The European Cocoa Association reported today that Q4 European cocoa grindings fell -5.3% y/y to 331,853 MT, the lowest in more than 4 years.  Also, the Cocoa Association of  Asia reported that Q4 Asian cocoa grindings fell -0.5% y/y to 210,111 MT, the lowest in 4 years.

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