Cocoa Drops as Demand Worries Overshadow Tight Supplies
- Market is keeping a close eye on how demand holds up
- Chocolate executives signaled more price increases may come
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Cocoa dropped in New York, heading for a weekly decline, amid concerns about weaker demand in the wake of record prices.
Futures slipped as much as 10% to hit the lowest since early December. Cocoa’s recent surge to an all-time high on the back of poor output in West Africa has the market watching for any signs that demand may be slowing.