Swiss chocolate giant Barry Callebaut announced on Wednesday that it does not anticipate cocoa bean prices returning to the levels seen in the 2022/2023 season, despite improvements in the current harvest.
Speaking at a company briefing, Peter Feld, CEO of the world’s largest cocoa and chocolate supplier, acknowledged that while cocoa harvests have significantly improved compared to last year, they are still not expected to reach the price highs of the previous season.
The remarks come amid ongoing volatility in the global cocoa market, which has been impacted by factors such as weather conditions and supply chain disruptions. While the company remains optimistic about the outlook for the cocoa industry, Feld emphasized that the strong price surge seen in 2022/2023 was unlikely to be replicated in the near future.
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