Cocoa Factories Are Slowing Down, Spelling Trouble for $117 Billion Chocolate Industry
- Bean processing slumped in Europe, Asia and North America
- Inflation is hitting pockets of consumers around the world
Cocoa beans are ground in Mutwanga, Democratic Republic of Congo.
Photographer: Alexis Huguet/AFP/Getty ImagesThis article is for subscribers only.
Cocoa factories around the world are slowing down fast, a sign that the worst is still to come for chocolate makers.
Bean processing in North America slumped almost 12% in the second quarter, the lowest for that period since at least 2008. In Europe and Asia, factories ground the least cocoa since the global pandemic when lockdowns and reduced air travel curbed chocolate demand.