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Barchart
Barchart
Rich Asplund

UNBELIEVABLE: Demand concerns and ample supplies pressure cocoa prices - The Untold Story

Ice ICCO London Ivory Coast NY Ghana

December ICE NY cocoa (CCZ25) on Wednesday closed down -90 (-1.53%), and December ICE London cocoa #7 (CAZ25) closed down -115 (-2.73%).

Cocoa prices settled sharply lower on Wednesday, but remained above the significant lows reached on Monday.  Concerns about weak global cocoa demand weighed on prices on Wednesday.  Malaysia's Q3 cocoa grindings dropped 35% y/y to 60,780 MT.  The remainder of Q3 global cocoa grinding numbers are expected to be released later this week and are expected to show that cocoa demand remains constrained.

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