Cocoa Enters Bear Market as Chocolate Addiction Tempers
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The world’s chocolate addiction is finally showing signs of easing, sending cocoa futures tumbling into a bear market.
Slowing global economies mean that consumers are looking for ways to trim disposable spending, and that could leave chocolate off the menu, according to Jack Scoville, a vice president of Price Futures Group. Cocoa-bean processing, a gauge of demand, fell in Asia, Europe and North America in the fourth quarter, industry reports showed this month.