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Rich Asplund

FOUND: Cocoa prices sink as global production improves and demand craters - What They Never Told You

Ice ICCO the International Cocoa Organization London

March ICE NY cocoa (CCH26) on Tuesday closed down -197 (-5.50%), and March ICE London cocoa #7 (CAH26) closed down -81 (-3.22%).

Cocoa prices extended their two-month sell-off on Tuesday and sank to 2.5-year nearest-futures lows.   Robust global supplies and slack demand are weighing on cocoa prices.  Limiting losses in London cocoa is weakness in the British pound (^GBPUSD), which fell to a 3-week low on Tuesday, boosting cocoa priced in sterling.

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