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Barchart
Barchart
Rich Asplund

HISTORICAL FACTS: Chocolate demand concerns weigh on cocoa prices | History Defined

Ice Barry Callebaut the Ivory Coast Ghana ICCO StoneX

July ICE NY cocoa (CCN26) today is down -42 (-1.02%), and July ICE London cocoa #7 (CAN26) is down -36 (-1.15%). Cocoa prices came under pressure today on chocolate demand concerns after Barry Callebaut, the world’s seventh largest chocolate maker by revenue, provided updated guidance that suggests a slower recovery in sales volumes than previously assumed.

Cocoa prices are also under pressure from rising inventories. ICE cocoa inventories rose to a 1.75-year high of 2,892,863 bags on Tuesday.

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