Industry analysts have welcomed the opening of Barry Callebaut’s chocolate factory in China.
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The Swiss chocolate maker is hoping that the site in Suzhou will give it a presence closer to its customers in China.
Barry Callebaut’s presence in Asia-Pacific has until now been limited to its site in Singapore, which has been running at full capacity in recent months.
One analyst, James Amoroso at Swiss broker Helvea, said he is “bullish” about the company’s potential in China and Asia.
“Barry Callebaut is unique amongst its global competitors having already opened two chocolate plants in Asia,” Amoroso said. “We would also remind investors of the strategic partnership announced last year with the leading Japanese confectioner, Morinaga.”
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By GlobalDataBarry Callebaut has forecast that chocolate consumption in China, at present tiny by Western standards, will rise by almost 9% a year over the next five years.
Amoroso, meanwhile, issued a “buy” rating on Barry Callebaut’s shares and added: “In less than two weeks, Barry will publish breathtaking fiscal Q1 sales, as initial volumes from the Nestlé and Hershey contracts in Europe and North America kick in.”
