CONFECTIONERY MARKET ANALYSIS
The biggest restraint to the confectionery market is the rise in raw material costs. For example, cocoa prices have been fluctuating over the past few years due to erratic production and supply demand imbalance. According to the International Cocoa Organization (ICCO), prices have fluctuated between US$ 2000/ton and US$ 3000/ton since 2014. The ICCO recommends that producers either reduce the volume of chocolate products or raise prices to achieve profitability in such market conditions.
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