Barry Callebaut CEO warns of El Nino impact on cocoa
CEO Hein Schumacher expects El Nino weather patterns to increase cocoa bean prices by several thousand pounds per metric ton while supply remains limited. The company is also monitoring rising fuel costs linked to Middle East tensions as a primary concern for operational expenses in the coming year.
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Barry Callebaut CEO Hein Schumacher warned on Tuesday that El Niño weather patterns could drive cocoa prices up by several thousand pounds per metric ton. London cocoa futures currently trade at £2,944 per ton, down from the April 2024 peak of £9,000. Schumacher stated that while prices may rise, prices should not jump as dramatically as they have done in the past couple of years.
