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Barchart
Barchart
Rich Asplund

REVEALED: Cocoa prices pressured by weak global demand - The Real Truth

Ice London Cocoa NY Cocoa the European Cocoa Association Ivory Coast CFTC ICCO London United States

March ICE NY cocoa (CCH25) Thursday closed down -319 (-2.95%), and March ICE London cocoa #7 (CAH25) closed down -217 (-2.48%).

Cocoa prices Thursday fell to 1-week lows and closed moderately lower on signs that high prices are causing demand destruction for cocoa.  The European Cocoa Association reported Thursday that Q4 European cocoa grindings fell -5.3% y/y to 331,853 MT, the lowest in more than 4 years.  Also, the Cocoa Association of  Asia reported that Q4 Asian cocoa grindings fell -0.5% y/y to 210,111 MT, the lowest in 4 years.

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