Weak fourth quarter cocoa grinds in developed markets suggest that consumers have reacted negatively to wholesale chocolate price hikes from the major brands, according to an analyst.
The International Cocoa Organization has quelled media reports of a chocolate crisis in 2020 and says there are sufficient cocoa stocks for the next five years.
The chocolate industry is behind in tackling some cocoa supply issues and must work more closely to avert shortages, according to Mars’ head of sustainability.
Cocoa futures in New York hit their lowest price since September yesterday on signs of increased production in Ivory Coast, which is the leading global supplier.
Cadbury, Mars and a number of other leading global confectioners
are under investigation in Canada over allegations of price fixing
in the country, press reports have said.
