Cocoa Slides To Multi-Month Low As Demand Destruction Fears Overshadow Tight Supplies Cocoa futures in New York tumbled to a two-and-a-half-month low last week as demand destruction concerns continue to flourish this month, overshadowing concerns about poor output in West Africa. Bloomberg reported Thursday that the top bean growers in the Ivory Coast had a very slow start to next season’s harvest, which begins in October. The slow start has been blamed on pricier hedges for traders, with prices hovering over $10,000 a ton for the last few months. Higher bean prices and increased volatility also forced the exchange to raise margin costs. … — Continue at ZeroHedge News : Read More
