By (Reuters) -Swiss chocolate maker Barry Callebaut on Wednesday said it expects flat cocoa sales volumes in its fiscal year 2024/2025 as high cocoa bean prices persist.
The firm said in a statement there was “significant uncertainty on how cocoa-related price increases will impact short-term demand,” adding that it would defend its market share in a challenging environment.
Cocoa bean prices almost doubled throughout the last 12 months to November, reaching their all-time high of about $12,540 per metric tonne in April, according to London terminal market prices.
This has hit Barry’s cash flows, which stood at minus 2.33 billion Swiss francs (-$2.67 billion) by the end of its fiscal year, compared to a positive result of 113 million Swiss francs last year.
Its chocolate sales volumes were unchanged at 2.279 million tonnes by the end of the company’s fiscal year in August. Analysts had expected 2.283 million tonnes in a company-compiled consensus.
($1 = 0.8725 Swiss francs)