Commodities
Inflation Takes a Toll on European Chocolate Sales
- Barry Callebaut’s volumes drop as higher prices hit demand
- Cocoa futures drop to lowest in more than two weeks in London
Spending on items like chocolate has fallen as consumers face a cost-of-living crisis.
Photographer: Michele Limina/BloombergThis article is for subscribers only.
Food inflation is hurting demand for chocolate, with European cocoa-processing giant Barry Callebaut AG reporting lower sales as higher prices force consumers to cut back on indulgent treats.
The company’s sales volumes fell 2.7% in the first nine months of the year, with its gourmet and specialists business seeing the biggest drop, it said on Thursday. Its shares retreated as much as 2%, while cocoa futures slumped to the lowest in more than two weeks in London.