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Barchart
Rich Asplund

MYSTERIOUS: Demand woes pressure cocoa prices - You Need To See This

Ice London Cocoa NY Cocoa Ghana Ivory Coast CFTC Deficit Hershey ICCO London

March ICE NY cocoa (CCH25) today is down -331 (-3.30%), and March ICE London cocoa #7 (CAH25) is down -117 (-1.48%).

Cocoa prices today are sharply lower and are holding just above last Friday's 2-month lows.  Cocoa prices have been under pressure over the past week on signs of slowing cocoa demand.  Chocolate maker Hershey said last Thursday that high cocoa prices are forcing it to reformulate recipes by replacing cocoa with other ingredients.  Last Tuesday, chocolate maker Mondelez International pointed to a potential slowdown in chocolate demand when CFO Zarmella said, "We are seeing signs, particularly in parts of the world like North America, where cocoa consumption is coming down."

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