“But we do believe that emerging markets this year will be giving us sustainable growth. We will get back to volume growth.”

In context

“offtake is good. We had some issues in supplying the market. And now that the system is done, we will really start to work that route to market expansion. So we're expecting, once we get through these short-term issues, that we will see some strong growth in Mexico. And then Brazil was mid-single digits, gaining share, a pretty good gain in distribution, price points are a bit of a discussion there. But we also expect Brazil to look pretty good. So in the 4 biggest emerging markets for us, we feel pretty good about where they are and what we expect for the rest of the year. There are some watch-outs. There is inflationary pressure in Nigeria, Pakistan, Egypt. In the Middle East and Southeast Asia, we have the boycotts of Western products that are affecting us. So not everything is great. But we do believe that emerging markets this year will be giving us sustainable growth. We will get back to volume growth. We feel that the low category penetration that we have and the distribution opportunity that we have will drive this. I think we are also gradually getting into the adjacencies. And we are able at this stage to continue our virtuous investment cycle where we continue to increase our investment every year. We get good growth. We generate more margin and the year after, we increase our investment. So overall, it's not going to be an incredible year in emerging markets, but it's going to be a very solid year for us in emerging markets. Bryan Spillane: And Luca, just one quick one on cocoa. I know here, our trading desk kind of has a view that we might be closer to $5,000 by the end of the year. So I guess, to the extent that there's an expectation that cocoa prices come down, does it pay f”