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Barchart
Barchart
Rich Asplund

THE TRUTH ABOUT: Strength in global demand pushes cocoa prices sharply higher - Caught on Camera

Ice United States ICCO London NY Europe Ghana Hershey Ivory Coast Mondelez

May ICE NY cocoa (CCK25) Thursday closed up +269 (+3.32%), and May ICE London cocoa #7 (CAK25) closed up +241 (+4.13%).

Cocoa prices on Thursday posted sharp gains on signs of better-than-expected global cocoa demand.  Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, a smaller decline than expectations for a -5% y/y drop.  Also, Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT, a smaller decline than expectations for a fall of at least -5% y/y.

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