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Rich Asplund

NY Cocoa Retreats as Chocolate Demand is Projected to Weaken

Ice NY ICCO Ghana Ivory Coast Deficit London

July ICE NY cocoa (CCN24) today is down -705 (-7.35%), and July ICE London cocoa #7 (CAN24) is up +115 (+1.40%).

Cocoa prices today are mixed, with NY cocoa falling to a 3-week low. Demand concerns are a negative factor for cocoa prices. On Wednesday, chocolate producer Nestle SA said that consumers would cut back on chocolate purchases as the recent historic rally in cocoa prices gradually trickles down to manufacturers and forces them to raise prices.

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