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Rich Asplund

UNBELIEVABLE: Ny cocoa closes lower on chocolate demand concerns | History Defined

Ice NY ICCO Ghana Ivory Coast Deficit London

July ICE NY cocoa (CCN24) on Friday closed down -603 (-6.28%), and July ICE London cocoa #7 (CAN24) closed up +96 (+1.17%).

Cocoa prices Friday settled mixed, with NY cocoa falling to a 3-week low. Demand concerns are a negative factor for cocoa prices. On Wednesday, chocolate producer Nestle SA predicted that consumers would cut back on chocolate purchases as the recent historic rally in cocoa prices gradually trickles down to manufacturers and forces them to raise prices.

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