July 11 Reuters Swiss chocolate maker Barry Callebaut reported on Thursday slightly higher sales volumes during the nine months ended May despite a surge in cocoa prices putting pressure on demand.

Barry Callebaut39;s ninemonth sales volume grew by 0.4 to 1.71 million tonnes, as expected by analysts.

Sales revenue jumped by 23.1 to 7.32 billion Swiss francs 8.14 billion, the company said in a statement.

May39;s cocoa grind in Ivory Coast, the world39;s top cocoa producer, fell by 30 yearonyear to 43,628 metric tons, driving cocoa prices up, data from exporter association GEPEX showed in June.

Climate change, years of insufficient planning and tree diseases have created a perfect storm for farmers in Western Africa, a region which accounts for roughly 70 of global cocoa supplies.

The Zurichbased company, which supplies chocolate for a range of producers including industry leaders such as Unilever and Nestle, said sales volumes were down 0.3 in the third quarter.

Barry Callebaut confirmed its fullyear 202324 guidance of flat volume and flat EBIT growth in a highly challenging supply and demand environment, according to the statement.

1 0.8991 Swiss francs

Reporting by Mateusz Dobrzyniewski and Andrey Sychev, Editing by Rachel More

Source Reuters