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Barchart
Rich Asplund

Global Demand Concerns Undercut Cocoa Prices

Ice the European Cocoa Association Ivory Coast London NY Ghana ICCO

May ICE NY cocoa (CCK26) on Thursday closed down -110 (-3.16%), and May ICE London cocoa #7 (CAK26) closed down -60 (-2.35%).

Cocoa prices fell sharply on Thursday amid concerns about global demand.  The European Cocoa Association reported Thursday that Q1 European cocoa grindings fell -7.8% y/y to 325,895 MT, a bigger decline than expectations of -6% y/y and the lowest for a Q1 in 17 years.

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