Reported about 7 hours ago
As cocoa prices near record highs, chocolate demand is expected to decline this year, with JPMorgan predicting a smaller supply shortfall than previously expected. They have adjusted their deficit estimates for the 2024-25 season to 40,000 tons, citing a projected demand drop of at least 1.8% due to high cocoa costs. Consumer chocolate prices are set to continue rising as manufacturers seek to mitigate these costs, leading to decreased sales and recipe reformulations in the industry.
Source: YAHOO