Demand for chocolate is declining

By all expectations, far fewer cocoa was processed globally in the first quarter of the year as demand for chocolate in retail declined worldwide. This has also weakened cocoa market prices a lot – origo wrote after Bloomberg.

According to the estimated average of industry data, the rate of cocoa food processing in Europe, the largest market for cocoa, fell by 3 percent year-on-year in the first three months of 2020. Similarly, a decline is expected for the North American data, where the rate of decline could be between 1 and 11 percent. (origo)