
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.