Cocoa Slumps Below $4,000 a Ton as Weak Demand Roils Market

Cocoa futures in New York fell below $4,000 per metric ton for the first time since 2023, further erasing much of a blistering rally that has left the chocolate industry grappling with dwindling demand.

The most-active futures contract fell as much as 5.9% to $3,931, the lowest level since November 2023, before paring most of the losses. Prices extended a slump seen in recent weeks after cocoa processing reports signaled demand for beans was dampened by a prolonged period of elevated prices over the past two years.