Summary

Cocoa processing is under pressure globally, with demand destruction outweighing seasonal support, leading to lower grindings. While cocoa futures have decreased from their peak, they remain historically expensive, impacting chocolate makers who are still working through beans bought at higher prices. This has resulted in depressed processing margins and underutilized capacity in major processing hubs.

https://www.theedgesingapore.com/news/commodities/cocoa-gets-cheaper-chocolate-makers-are-still-holding-back