US EditionBarry Callebaut Cuts Outlook Again on ‘Unprecedented’ Cocoa Volatility
SWITZERLAND, JUL 10 – Barry Callebaut faces reduced chocolate orders amid changing consumer demand, impacting its global supply chain and sales performance, company reports indicate.
- Barry Callebaut AG lowered its full-year sales volume forecast by 7% for early 2025, citing ongoing fluctuations in cocoa bean prices.
- This cut follows record global supply deficits driven by climate change-induced extreme weather in West Africa, disrupting cocoa production.
- Excessive rainfall in late 2023 worsened crop diseases like swollen shoot virus, while West Africa supplies about 70% of the world’s cocoa.
- Cocoa prices have climbed dramatically from July 2022 to February 2024, increasing by 136%, and on March 26, 2024, the cost per tonne surpassed the $10,000 mark for the first time.
- The forecasted supply shortages and weakening demand visibility underline ongoing risks for volume recovery and chocolate market inflation in 2025.
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Cocoa prices on world stock exchanges have been falling slightly since the beginning of the year, thanks to improved weather forecasts for cocoa-producing countries and weaker global demand. However, they remain above the historical average and, even if this year's harvest is good, the market will continue to struggle with the deficits of recent years for a long time. Chocolate in the Czech Republic is therefore unlikely to become cheaper.
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