Demand from emerging markets continues to push up cocoa powder prices, which are up 24.1% year on year. Chocolate manufacturers are making more products containing cocoa powder due to its lower cost when compared with cocoa butter.

Cocoa butter prices have fallen by 18.2% following a decrease in cocoa grinding in Q1 2015. Grindings in the EU fell 2% year on year to 337,706 tonnes. Grinding also fell 6% year on year to 121,508 tonnes in North America.

After continuous rises, Kenyan tea prices have finally fallen 9% month on month due to forecasts of favourable weather conditions ahead of the crop intake in May. However, prices remain high on a year-on-year basis.

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