Cocoa prices to remain weak this year but grinders, chocolate makers optimistic about long-term demand trend
Cocoa and chocolate demand in Asia has grown over the years, and many expect this long-term trend to persist post-pandemic
Add BT as a preferred source
Uma Devi
Singapore
HOME bakers were unable to buy flour earlier this year, but the demand for chocolate has actually fallen - taking cocoa prices down too. Cocoa and chocolate suppliers within the Asian region aren't too worried though, and are in fact spending to grow.
A Fitch Solutions report on Thursday said cocoa prices had trended lower in May and June as recession fears dampened demand for the commodity. Prices had hit a 52-week low on July 8 at US$2,100 per tonne, before recovering slightly.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
EU and Asean at 50: time for bold action
