Asian Cocoa Grindings in 2Q up 9.9% on Year

By Lucy Craymer Features Dow Jones Newswires

Asian cocoa grindings in the second quarter rose 9.9% from the same period last year to 160,878 metric tons, according to figures issued by Cocoa Association of Asia on Wednesday.

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Compared with the first quarter, grindings were down 9.3%, the data showed.

Grindings refer to the volume of cocoa beans processed into the butters and powders used to make chocolate and are often used as a proxy for chocolate demand.

The data reflect the compilation of grindings from Malaysia as well as from Cocoa Association of Asia members in both Singapore and Indonesia.

Last week, the European Cocoa Association said processing volumes of raw cocoa beans in Europe rose 2.1% year-over-year in the second quarter of 2017. The National Confectioners Association will release its figures for the second quarter on July 20.

Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer

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(END) Dow Jones Newswires

July 19, 2017 04:05 ET (08:05 GMT)