{"id":1479358,"date":"2024-07-25T08:15:00","date_gmt":"2024-07-25T12:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1479358"},"modified":"2024-07-25T08:15:00","modified_gmt":"2024-07-25T12:15:00","slug":"swiss-chocolatier-warns-high-cocoa-prices-resulting-in-global-slowdown-in-chocolate-market","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/swiss-chocolatier-warns-high-cocoa-prices-resulting-in-global-slowdown-in-chocolate-market\/1479358\/","title":{"rendered":"Swiss Chocolatier Warns High Cocoa Prices Resulting In\u00a0Global\u00a0Slowdown In Chocolate Market"},"content":{"rendered":"

Swiss Chocolatier Warns High Cocoa Prices Resulting In\u00a0Global\u00a0Slowdown In Chocolate Market<\/span><\/p>\n

\n

Chocolate maker Lindt & Spruengli AG has warned the\u00a0global chocolate market is\u00a0under strain due to high prices.\u00a0Reducing demand is necessary to prevent cocoa prices from surging once again amid persistent cocoa supply issues stemming from adverse weather conditions impacting some of the world’s largest farms in West Africa.\u00a0<\/p>\n

Bloomberg reports\u00a0that Lindt CEO\u00a0Adalbert Lechner told investors during an earnings call on Tuesday that\u00a0the global chocolate market was experiencing a slowdown for some products due to rising cocoa prices. He said price hikes for consumers partially offset higher cocoa bean costs for the\u00a0Swiss chocolatier and confectionery company, adding\u00a0that cost inflation will ramp up into next year.\u00a0<\/p>\n

“It is quite difficult to predict where the futures market will go from here and how quickly we will see a further correction,”\u00a0Lechner told investors.<\/em><\/p>\n

He said,\u00a0“The speed and the extent of the market correction will also depend a lot on the impact of the overall volume demand in the chocolate market.”<\/em><\/p>\n

Cocoa futures in New York have been oscillating in what some call a ‘symmetrical triangle’ since prices peaked at $12,000 a ton in April. This followed a massive run-up early this year fueled by a\u00a0historic shortage in\u00a0West Africa due to poor harvests. The $8,000 level is a price magnet as traders wait for new harvest or demand data.\u00a0<\/p>\n

“It is still early in the season” to predict harvest figures, “which may keep the market in a back-and-forth pattern,” according to a Tuesday ADM Investor Services note.<\/p>\n

<\/a><\/p>\n

Here are the latest cocoa reports:<\/p>\n

Cocoa Traders Face Billion Dollar Loss As Ghana Throttles Cocoa Delivery Supplies, Report Says<\/a><\/em>
\n\tCocoa Grinding Estimates Suggest Demand Destruction Nearing<\/a><\/em>
\n\tCocoa Prices Fall To Critical Technical Support Level On Improving Ivory Coast Outlook<\/a><\/em>
\n\tGlobal Cocoa Shortage Much Worse Than Previously Forecasted As Prices Surge<\/a><\/em><\/p>\n

Cocoa prices have been supported by better-than-expected demand and poor harvest figures.\u00a0Some analysts\u00a0believe prices might need to go higher to achieve proper demand destruction.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 07\/25\/2024 – 04:15<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/commodities\/swiss-chocolatier-warns-high-cocoa-prices-resulting-global-slowdown-chocolate-market<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Swiss Chocolatier Warns High Cocoa Prices Resulting In\u00a0Global\u00a0Slowdown In Chocolate Market Chocolate maker Lindt & Spruengli AG has warned the\u00a0global chocolate market is\u00a0under strain due…<\/p>\n","protected":false},"author":0,"featured_media":1479359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1479358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1479358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1479358"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1479358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1479359"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1479358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1479358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1479358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}