Cocoa futures on Friday marked a drop of 30% from their all-time highs, as a buying frenzy that lifted prices to a record just two weeks ago gave way to expectations for better crop conditions and worries about a drop in demand.

Cocoa prices fell sharply this week, with liquidity drying up and trading growing volatile as buyers balk at high expenses.Prices dropped nearly 29% over the past week to levels not seen since mid-March.

After starting the year on a tear that put the fear of God in Easter baskets everywhere, cocoa prices are backing sharply off record highs. Futures for the commodity have dropped nearly a third from the place it was at just a few weeks ago.

ICE NY cocoa (CCN24) on Thursday closed down -721 (-8.70%), and July ICE London cocoa #7 (CAN24) closed down -695 (-9.59%). Cocoa prices plummeted to 6-week lows on Thursday as the downside correction in prices from recent record highs continues.