December ICE NY cocoa (CCZ25) today is down -33 (-0.62%), and December ICE London cocoa #7 (CAZ25) is down -60 (-1.47%).
Cocoa prices are seeing weakness after the Trump administration announced last Friday that it would drop 10% reciprocal tariffs on commodities not grown in the US, including cocoa. However, US imports of cocoa from Brazil will still apparently be subject to the 40% US national-security tariff on Brazil. In 2023, Brazil was the fifth-largest cocoa producer in the world.
