The world's leading chocolate manufacturer, Barry Callebaut, said yesterday (28 June) that it anticipates continued instability in the price of cocoa in the short term but also saw the potential for prices to rise in the longer term.

Speaking during a conference call accompanying the announcement of Barry Callebaut's financial results today (29 June), CEO Patrick De Maeseneire said: "In the short term we might see some volatility in the cocoa price. However, he continued, in the long term as Asian demand increases prices are likely to rise.

The group reported a 23.8% rise in nine-month net profit - up to CHF126m (US$100.98m).