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
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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.
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