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Barchart
Barchart
Rich Asplund

UNBELIEVABLE: Cocoa prices tumble on weakness in global demand - The Untold Story

March ICE NY cocoa (CCH25) today is down -280 (-2.59%), and March ICE London cocoa #7 (CAH25) is down -187 (-2.14%).

Cocoa prices today retreated to 1-week lows on signs that high prices are causing demand destruction for cocoa.  The European Cocoa Association reported today 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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