Highlights:

• Global cocoa processing down across all major regions in Q2 2025
• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since 2017
• Cocoa prices fall to 8-month low; Barry Callebaut expects 7% sales drop

Global cocoa processing continues to decline as manufacturers face high raw material costs, squeezed margins, and weakening demand for chocolate products.

According to data released Thursday, July 17 by the European Cocoa Association (ECA), Europe processed 331,762 tonnes of cocoa beans in Q2 2025, down 7.2% from a year earlier and the lowest volume recorded since 2020. Germany, the region’s second-largest grinder after the Netherlands, saw its stocks fall 17% year-on-year to 84,280 tonnes.

The Cocoa Grind Stats for Q4 2024 have been published on our website. From next month onwards, the Grind Stats will be only announced on our LinkedIn page. Download the Q4 2024 report here: https://t.co/hJcgI8h3ae#cocoa #grindstats #eurococoa #Q42024 #cocoagrinding

— European Cocoa Association (ECA) (@ECA_aisbl) January 16, 2025

In Asia, grindings dropped even more sharply. The Cocoa Association of Asia (CAA) reported a 16.2% year-on-year decrease, with only 176,644 tonnes processed—marking the lowest level since 2017.

In North America, the decline was less pronounced. Between April and June, grindings fell 2.7% year-on-year to 101,865 tonnes, according to the National Confectioners Association (NCA), also published on July 17.

These figures add to growing concerns that global cocoa demand is shrinking. Cocoa futures have continued their downward trend since early 2025. On Thursday, cocoa prices dropped 4.3% in New York to $7,309 per tonne, the lowest since November 21, 2024. In London, cocoa closed at £4,309, down 24% from the same time last year.

Meanwhile, major processors continue to struggle with the aftershocks of the 2024 price volatility. On July 10, Barry Callebaut, the world’s top chocolate producer, forecasted a 7% year-on-year drop in sales volume for the fiscal year ending August 31, 2025.

Market sentiment remains tense, further strained by the 21% U.S. tariffs on cocoa imports from Côte d'Ivoire, the world’s largest producer. The policy could increase supply chain costs for U.S. chocolate makers and weaken consumption in the United States, the world’s largest chocolate market and top importer of processed cocoa products.

This article was initially published in French by Espoir Olodo

Edited in English by Ola Schad Akinocho