December ICE NY cocoa (CCZ25) on Thursday closed down -34 (-0.43%), and September ICE London cocoa #7 (CAU25) closed down -70 (-1.29%).
Cocoa prices were under pressure on Thursday due to concerns that high cocoa prices and tariffs could dampen chocolate demand. Weakness in chocolate demand is a negative factor for cocoa prices. Chocolate maker Lindt & Sprüngli AG lowered its margin guidance for the year in July due to a larger-than-expected decline in first-half chocolate sales. Additionally, chocolate maker Barry Callebaut AG reduced its sales volume guidance for a second time in three months in July, citing persistently high cocoa prices. The company projects a decline in full-year sales volume and reported a -9.5% drop in its sales volume for the March-May period, the largest quarterly decline in a decade.
