Mondelez International has predicted a slowdown in growth for this year as the company grapples with volatile cocoa prices. The owner of Oreo and Cadbury stated on Tuesday that the recent sharp decline in cocoa prices over the past few weeks could introduce some short-term pressure, depending on competitors' reactions and where these prices ultimately stabilize. CEO Dirk Van de Put told analysts on an earnings call, "This might lead to some unexpected competitive responses for us." "Therefore, we want to build some flexibility into our performance outlook, as we are not entirely certain how the market will develop." The company's stock fell 4.8% in after-hours trading to $56.63. As of Tuesday's market close, the stock had risen 3.6% over the past year.