Production delays at cocoa-bean processing plants worsened in the second quarter, according to Bloomberg News Agency, which surveyed seven companies involved in the processing and marketing of cocoa, the raw material used to make chocolate.
The quantity of cocoa beans processed into butter or ground and then used in confectionery fell by 5% in the last quarter in Europe compared to the corresponding period in 2024. Production has declined for the fourth consecutive quarter, and cocoa grinding is at its lowest level since the Coronavirus crisis.
The delay in production is the result of historically high cocoa prices. The price has more than doubled in the last two years and reached a record high in December due to poor harvests in West Africa, the largest supplier. Demand for chocolate has therefore fallen in Europe, the region that consumes the most chocolate in the world.
"The price level we have seen over the last 12 to 15 months has had a huge impact on consumption," commented Steve Wateridge, head of Tropical Research Services at the analysis firm Expana. "Volumes are falling, and companies are also trying to use less cocoa by replacing it with other ingredients."
Major chocolate manufacturers such as Barry Callebaut and Nestlé have significantly increased the prices of their chocolate products due to the high price of cocoa. They, too, have adapted some recipes by adding more ingredients, such as nuts or vegetable oils, as a substitute for cocoa butter.
