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Barchart
Barchart
Rich Asplund

FOUND: Weak global demand hammers cocoa prices - You Need To See This

Ice ICCO London NY European Union the International Cocoa Organization

March ICE NY cocoa (CCH26) on Thursday closed down -124 (-2.44%).  March ICE London cocoa #7 (CAH26) closed down -86 (-2.30%).

This week's slump in cocoa prices continued on Thursday, with NY cocoa sinking to a nearly 2-year low and London cocoa falling to a 1.5-month low.  Signs of weak global cocoa demand are hammering prices.  The European Cocoa Association reported on Thursday that Q4 European cocoa grindings fell -8.3% y/y to 304,470 MT, a bigger decline than expectations of -2.9% y/y and the lowest for a Q4 in 12 years.  

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