Cocoa prices are easing. So why is chocolate still so expensive?
Swiss Chocolate giants Barry Callebaut, Lindt, and Nestlé all pointed to soaring cocoa prices as a drag on earnings. Lindt said Monday that groupwide price increases of 11.8% led to chocolate sales volumes dropping 7.5% as fewer shoppers bought chocolate in the first half of the year. "Record cocoa prices required unprecedented price increases across the industry, while geopolitical uncertainty, inflation and weak consumer sentiment weighed on demand," Group CEO Adalbert Lechner said in an analyst call.
- ▪Swiss Chocolate giants Barry Callebaut, Lindt, and Nestlé all pointed to soaring cocoa prices as a drag on earnings.
- ▪Lindt said Monday that groupwide price increases of 11.8% led to chocolate sales volumes dropping 7.5% as fewer shoppers bought chocolate in the first half of the year.
- ▪"Record cocoa prices required unprecedented price increases across the industry, while geopolitical uncertainty, inflation and weak consumer sentiment weighed on demand," Group CEO Adalbert Lechner said in an analyst call.
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Swiss Chocolate giants Barry Callebaut, Lindt, and Nestlé all pointed to soaring cocoa prices as a drag on earnings. Lindt said Monday that groupwide price increases of 11.8% led to chocolate sales volumes dropping 7.5% as fewer shoppers bought chocolate in the first half of the year. "Record cocoa prices required unprecedented price increases across the industry, while geopolitical uncertainty, inflation and weak consumer sentiment weighed on demand," Group CEO Adalbert Lechner said in an analyst call.
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