Swiss chocolate giant Barry Callebaut says sales slumped 14.3% by volume in its third quarter but is optimistic as lockdowns ease
CEO of chocolatier Barry Callebaut, Antoine de Saint-Affrique. Picture: REUTERS/ArRND WIEGMANNChocolate may be a go-to comfort food for many but Swiss chocolate giant Barry Callebaut said on Thursday that sales tumbled during its latest quarter when many consumers were confined to their homes as part of measures to slow the spread of the coronavirus.
“As anticipated in April, Covid-19 lockdowns across the globe impacted our sales volume in the third quarter,” said the firm which supplies major confectionery makers such as Nestlé, Unilever and Mondelez. Lockdowns have seen some consumers spending more on groceries as they ate more at home, but not all food products have benefited, and gains at supermarkets have not always compensated for sales lost through other channels.
It noted that sales volumes have picked up in areas where lockdowns have been relaxed, with the Asia Pacific regions flat in the third quarter with a speedy recovery of demand in China and Japan.
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