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According to Bloomberg, the price of the most commonly traded cocoa bean futures contract in New York dropped by 4.4% to $6,650 per ton on Monday.
Though demand for the raw material is expected to fall, cocoa prices are still above historical averages, according to analysts at BMI, a division of Fitch Solutions. There have been warnings from certain chocolate manufacturers that the second half of the year would put strain on their profit margins.
Furthermore, despite three years of shortages, many analysts predict that supply will once again outpace demand in the global cocoa market in the 2024–2025 crop year.
source: bloomberg.com
Though demand for the raw material is expected to fall, cocoa prices are still above historical averages, according to analysts at BMI, a division of Fitch Solutions. There have been warnings from certain chocolate manufacturers that the second half of the year would put strain on their profit margins.
Furthermore, despite three years of shortages, many analysts predict that supply will once again outpace demand in the global cocoa market in the 2024–2025 crop year.
source: bloomberg.com