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Rich Asplund

UNBELIEVABLE: Weak chocolate demand hammers cocoa prices | History Defined

Ice Jeffries Ghana ICCO London NY

December ICE NY cocoa (CCZ24) today is down -681 (-8.82%), and December ICE London cocoa #7 (CAZ24) is down -139 (-2.61%).

Cocoa prices today plummeted for a second day and posted 3-1/2 week lows.  Concerns about weak chocolate demand are hammering cocoa prices after Jeffries warned that chocolate sales are "notably underperforming" other snacking categories due to elevated prices, prompting consumers to switch to cheaper snacks.  

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