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Barchart
Barchart
Rich Asplund

UNBELIEVABLE: Cocoa prices rebound on better than expected cocoa demand - The Untold Story

May ICE NY cocoa (CCK25) today is up +269 (+3.32%), and May ICE London cocoa #7 (CAK25) is up +220 (+3.77%).

Cocoa prices jumped today on signs of better-than-expected global cocoa demand.  Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, a smaller decline than expectations for a -5% y/y drop.  Also, Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT, a smaller decline than expectations for a fall of at least -5% y/y.

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