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Rich Asplund

Weakness in Chocolate Sales Weighs on Cocoa Prices

Ice Jeffries Ghana ICCO NY London

December ICE NY cocoa (CCZ24) today is down -538 (-6.50%), and December ICE London cocoa #7 (CAZ24) is down -296 (-5.35%).

Cocoa prices today are sharply lower due to concerns about chocolate demand. Long liquidation hammered cocoa prices after Jeffries warned that chocolate sales are "notably underperforming" other snacking categories due to elevated prices that are prompting consumers to switch to cheaper snacks.

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