Despite a market correction, cocoa prices remain twice as high as the average recorded between 2012 and 2022 ($2,525 – approximately €2,170 – per ton), the insurer Coface reported.
Economist Simon Lacoume stated in a release that “after two years of tension, the current correction is bringing cocoa prices back to more rational levels.”
However, it is “premature to speak of normalization, given the structural weaknesses and the high geographical concentration of cocoa bean production.”
Chocolate products maintain a ‘premium’ position despite volatility, Coface noted, with “worldwide demand for chocolate continuing on a growth trajectory, driven by Asia and ‘premium’ segments.”
“Ethical, organic, and low-sugar products are seeing increasing adoption, as is certified cocoa (Fairtrade, Rainforest Alliance),” it highlighted.
