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Rich Asplund

Weak Chocolate Demand Weighs on Cocoa Prices

Ice the Ivory Coast London Ghana ICCO NY

May ICE NY cocoa (CCK26) on Monday closed down -10 (-0.31%), and May ICE London cocoa #7 (CAK26) did trade with UK Markets closed for the Easter Monday holiday.

Cocoa prices settled lower on Monday and are under pressure amid signs of weak chocolate demand. According to Bloomberg Intelligence, early estimates for chocolate candy sales this Easter holiday, a prime seasonal time for chocolate consumption, are tracking toward a decline of about -5% from last year.

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