July ICE NY cocoa (CCN25) today is down -156 (-1.76%), and May ICE London cocoa #7 (CAK25) is down -98 (-1.52%).
Cocoa prices today are trading sharply lower but remained above Wednesday's 1-week lows. Demand concerns are weighing on cocoa prices after chocolate maker Hershey Co. reported today that Q1 sales fell -14% and said it anticipates $15-$20 million of tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. On Wednesday, Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices.
