![Cocoa price surge eats into Barry Callebaut sales volumes](https://www.portugalcolonial.pt/media/shared/articles/e9/51/5c/Cocoa-price-surge-eats-into-Barry-C-866206.jpg)
-
P&G eyes overall sales growth despite China weakness
-
Activists celebrate LGBTQ Olympians in 'city of all loves'
-
With Games in full swing, opening ceremony controversy simmers on
-
Airbus first-half net profit halved to 825 mn euros
-
Sri Lanka limit India to 137-9 in third T20
-
Zheng Qinwen blasted as 'cut-throat' with 'no respect' at Olympics
-
Carbon credits 'ineffective', says corporate climate watchdog
-
Palhinha cherishing 'second chance' with Bayern move
-
Hayes to make London return as USA face England in Wembley women's friendly
-
108 killed after landslides strike India tea estates
-
As Russia punches forward, Ukraine's Toretsk living in 'hell'
-
Schauffele says Olympic gold 'very different' to major wins
-
Harris targets battleground Georgia with rapper's help
-
TikTok star Maher 'supercharging' US Olympic rugby sevens
-
Solar storms could cause more auroras on Tuesday night
-
Israel, Hezbollah exchange fire amid calls for restraint after Golan attack
-
Australia will be 'well organised', warns Springboks coach Erasmus
-
Southampton sign Brereton Diaz on four-year deal
-
Celestial mixes: Portugal's star DJ priest
-
Tearful Gauff dumped out of Olympics after on-court row as Nadal returns
-
England pacemen Archer and Robinson extend Sussex stints
-
Dujardin faces 'long road back', says dressage mentor Hester
-
Teen swim star McIntosh sets herself up for superstardom
-
French DJ star of Olympics show reports cyberbullying
-
German economy unexpectedly shrinks in second quarter
-
Notorious UK Islamist preacher jailed for life
-
Tearful Gauff in 'cheat' storm after Olympic exit
-
England white-ball cricket coach Mott stands down
-
Musk's superhuman vision promise is dangerous: researchers
-
'Little Olympian': fencer says competed in Paris heavily pregnant
-
Spain watchdog fines Booking.com 413 mn euros
-
Two Chinese swimmers cleared after positive tests in 2022 - report
-
Turkish stray dog law sparks opposition anger
-
Druze in Golan reject Israeli threats to retaliate for rocket strike
-
UK police question teen held after deadly mass stabbings
-
Number 1: How an AFP photographer grabbed the perfect surf shot
-
Hashimoto and Zhang primed for knock-out all-around title bout
-
Oil giant BP reports tumbling profits in first half
-
Chinese leaders pledge further support for flagging economy
-
Olympic blow as triathlon postponed, Biles chases first gold of Games
-
France, Spain log solid growth in second quarter
-
Taiwan's President Lai calls for unity in face of China 'threat'
-
Newcastle's Howe not contacted 'whatsoever' about England job
-
Olympic men's triathlon postponed to Wednesday due to Seine pollution
-
India's 'visa temple' bestows tickets to the American dream
-
24 dead, hundreds feared trapped in India landslides
-
Drought in Sicily threatens grain fields, animal herds
-
Belgium flexes its new locally sourced mussels
-
Notorious UK Islamist preacher to be sentenced
-
Hong Kong young fencers draw inspiration from Olympic 'Sword Queen'
RIO | -1.59% | 63.69 | $ | |
RBGPF | -0.66% | 52.95 | $ | |
CMSC | 0.15% | 24.187 | $ | |
BTI | 0.18% | 35.585 | $ | |
NGG | -0.7% | 63.895 | $ | |
RYCEF | 1.22% | 5.73 | $ | |
GSK | -1.15% | 39.555 | $ | |
SCS | 0.35% | 14.25 | $ | |
BP | -0.65% | 34.735 | $ | |
BCC | 0.34% | 140.57 | $ | |
RELX | 0.03% | 47.035 | $ | |
AZN | -0.89% | 77.665 | $ | |
BCE | 0.91% | 33.575 | $ | |
CMSD | 0.14% | 24.345 | $ | |
VOD | -0.47% | 9.396 | $ | |
JRI | 0.14% | 12.498 | $ |
![Cocoa price surge eats into Barry Callebaut sales volumes](https://www.portugalcolonial.pt/media/shared/articles/e9/51/5c/Cocoa-price-surge-eats-into-Barry-C-866206.jpg)
Cocoa price surge eats into Barry Callebaut sales volumes
The world's top industrial supplier of chocolate, Barry Callebaut, reported Thursday a dip in sales volumes in its latest quarter as a jump in cocoa prices bit into demand.
Figures released by the Swiss firm showed that sales volumes slid 0.3 percent in the company's third quarter, which runs from March through May, while sales revenues surged nearly 27 percent to 2.68 billion Swiss francs ($2.98 billion).
Over the first nine months of its fiscal year that runs through August, sales volumes were still up 0.4 percent to 1.7 million tonnes and revenues climbed 16.3 percent to 7.32 billion francs.
Global cocoa prices were up 131 percent during that period, but Barry Callebaut said most of its contracts allow it to recoup increases in input prices.
The evolution of nine-month sales volume and revenue figures were in line with the expectations of analysts surveyed by Swiss financial news agency AWP, but the company's shares tanked eight percent in morning trading.
"In an unprecedented cocoa environment, we are pleased with achieving a slight increase in volume for the first nine months," chief financial officer Peter Vanneste said in a statement.
The company pointed to a 0.8 percent increase in its chocolate sales despite the global confectionary market sliding 1.5 percent according to data firm Nielsen as manufacturers faced softer consumer demand in the face of higher prices.
Barry Callebaut supplies cocoa and other chocolate products to food industry giants including Hershey, Nestle and Unilever.
"Looking ahead, the market faces further challenges, particularly from supply turbulence and cocoa-related price increases," Vanneste said.
The company kept its full-year guidance of flat sales volume growth and steady recurring operating profits. It reports annual results on November 6.
London cocoa prices hit a record of 9,285 pounds per tonne on April 19, and are currently trading at around 6,700 pounds per tonne.
Barry Callebaut is in the midst of a restructuring that will see job cuts and major investments to modernise its operations and tap into growing Asian markets.
C.Amaral--PC