Chocolate maker and cocoa processor Barry Callebaut reported a lower sales volume than expected for its first quarter on Wednesday, hit by delayed orders as its clients renegotiate product prices with retailers amid record high cocoa costs.

Barry Callebaut's actual sales volume decline of 2.7% exceeded the market's expected decline of 2.2%. This drop was particularly sharp in Western Europe, where volumes fell by 7.5%. The region faced tough comparisons from a large one-off contract from the previous year, as well as impacts from customer delistings at retailers.

The chocolate company’s shares fell after it missed sales volume expectations and cut its guidance for fiscal 2025 as soaring cocoa bean prices drag demand.