Chocolate Prices to Fall as Cocoa Surplus Seen at Six-Year High
- ICCO sees Ivory Coast output climbing 20% in current crop year
- Processing stagnates in Europe and Americas but rises in Asia
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Chocolate prices are set to fall as the world cocoa market shifts from a deficit to the largest surplus in six years, according to the International Cocoa Organization.
Global production will top demand by 264,000 metric tons in the 2016-17 season, which started Oct. 1, the London-based group said Tuesday in a report. The deficit was 196,000 tons in the preceding year.