Top chocolate manufacturer Barry Callebaut says coronavirus lockdowns across the globe hurt its sales in March-May 2020.
Image from Barry Callebaut website
"As anticipated in April, COVID-19 lockdowns across the globe impacted our sales volume in the 3rd quarter," said the firm which supplies major confectionery makers such as Nestle, 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 3rd quarter where there was speedy recovery of demand in China and Japan.
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