(Reuters) – Chocolate maker and cocoa processor Barry Callebaut on Wednesday reported a lower sales volume than expected for its first quarter, hit by customer-retailer pricing negotiations and delayed orders amidst record high cocoa prices.
The Switzerland-based group, which supplies chocolate for Unilever (LON:)’s soon-to-be-spun-off Magnum ice creams and Nestle (NSE:)’s KitKat bars, said its sales volume fell 2.7% to 565,000 tonnes in the quarter that ended on Nov. 30, compared with analysts’ forecast of 568,000 tonnes in a company-provided consensus.
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