Chocolate Market Weakens With Fewer Treats in Lockdown
- Demand is seen weaker than recent processing data suggest
- There are worries the virus will hurt chocolate demand
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Cocoa grindings have beat expectations this year and prices have started holding up, but don’t be fooled: there’s a grim picture emerging for chocolate demand.
Better-than-anticipated European and Asian grindings -- where beans are turned into products used in chocolate bars -- recently suggested that demand may have proved fairly resilient to the coronavirus crisis. But analysts and traders say that was fueled more by processors ramping up output ahead of potential supply-chain disruptions, rather than real consumption.