Spilling the beans about cocoa prices

CEO Tay says Guan Chong’s orders have been increasing.

FROM US$4,200 per tonne at the start of 2024, cocoa prices saw a dizzying spiral to an all-time high of US$10,080 this month.

For Guan Chong Bhd, the world’s fourth-largest cocoa grinder, the price upswing of over 130% in less than three months – even outpacing the erratic bitcoin – has added more pressure to its already stretched financials.