Cocoa Processing Hits Four-Year Low as Record Prices Bite
TLDR
- Cocoa grindings in Europe and Asia fell to their lowest levels since 2020 in the final quarter of 2024
- This reflects the impact of record-high prices and low inventories on the chocolate industry
- Grindings were last this low during the early months of the COVID-19 pandemic
Cocoa grindings in Europe and Asia fell to their lowest levels since 2020 in the final quarter of 2024, reflecting the impact of record-high prices and low inventories on the chocolate industry.
Data released Thursday revealed a 5.4% year-on-year drop in European cocoa processing and a 0.5% decline in Asia.
Grindings were last this low during the early months of the COVID-19 pandemic when lockdowns and trade disruptions slowed the chocolate business.
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Key Takeaways
The drop in cocoa grindings underscores the strain that record prices place on chocolatiers. Rising costs and tight supply chains force companies to reassess operations, potentially impacting global chocolate production. With cocoa prices nearing all-time highs due to supply concerns and climate challenges in top-producing nations, the industry faces continued pressure. How chocolatiers adapt to these challenges will shape market dynamics in 2025 and beyond.
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