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

Uma Devi

Published Fri, Aug 21, 2020 · 09:50 PM

wilmar international

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.