Commodities
Near Record High Cocoa Prices Are Destroying Chocolate Demand
- JPMorgan analysts trim forecast for cocoa deficit in 2024-25
- Chocolatiers to keep hiking prices in 2025 on higher costs
Hand-made chocolates in Paris.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
Rising chocolate prices will hurt demand this year, resulting in a smaller than anticipated supply shortfall, according to JPMorgan Chase & Co.
The bank’s analysts trimmed their deficit estimates for the current 2024-25 season to 40,000 tons, from their autumn forecast of 108,000 tons. That’s mainly because they expect demand to fall by at least 1.8% as historically high cocoa prices dent consumption.