The spread of lockdowns and social-distancing measures linked to the COVID-19 outbreak have disrupted supply chains and are cutting consumer demand, as discussed in Panjiva’s Q2 2020 Outlook. Sadly measures will likely lead to fewer Easter Egg hunts this year. 

Yet, that doesn’t mean that retailers are expecting a collapse in demand. Indeed, Panjiva’s data shows that U.S. imports of chocolate products 1.3% rise in January and February combined, while preliminary data for March shows seaborne imports slipped 4.6% lower. Imports from Canada and Mexico have done better than those from Europe, possibly reflecting a switch to domestic brands over more luxurious imports from overseas.

Chart segments U.S. imports of chocolate products (HS 1806) by origin.  Source: Panjiva

Many chocolatiers have seen significant shipment growth though. Seaborne imports linked to Lindt & Sprungli, maker of the eponymous chocolate rabbit, saw growth of 33.3% in shipments in Q1 including a 22.0% surge in March.

The growth in Q1 lagged the 38.5% expansion seen in imports linked to Mondelez, while shipments associated with Barry Callebaut climbed by 20.0%. Ferrero meanwhile saw a drop of 21.1%, including a 40% drop in March – potentially linked to fewer ambassadorial events.

Chart segments U.S. seaborne imports of chocolate products (HS 1806) by shipper.  Source: Panjiva