Guan Chong: Volatile global cocoa prices to be over soon

Guan Chong Bhd chief executive officer and managing director Brandon Tay Hoe Lian.

PETALING JAYA: Cocoa processor Guan Chong Bhd expects the volatile global cocoa prices arising from lower demand and overcapacity to be over by the end of the year.

Managing director and chief executive officer Brandon Tay said in a statement following the company’s AGM that the cocoa grinding industry had a bad start to the year, particularly due to the economic uncertainty in the eurozone, which had then affected prices and demand for cocoa ingredients.