Global demand for chocolate has collapsed despite lower cocoa prices, according to Azernews.
Production rates at factories worldwide are declining, signaling that the aftermath of last year's sharp price surge continues to impact processors' profits.
The demand for cocoa butter is low, and unlike last year, concerns about its supply have eased.
According to Jonathan Parkman, head of agricultural sales at Marex Group, processors have locked in elevated prices for the next six months, which means the cost of sweet treats is unlikely to drop significantly in the near future.
Author's summary: Global chocolate demand falls despite lower cocoa prices.