Asian Cocoa Grindings Up 13% in 3Q
Asian cocoa grindings in the third quarter rose 13% from the same period last year to 189,407 metric tons, according to figures issued by the Cocoa Association of Asia on Friday.
Compared with the second quarter, grindings were up 18%, 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 Singapore and Indonesia.
The North American National Confectioners Association processed 0.7% more beans in the third quarter, according to data released at the close of trading in the U.S. Thursday. European processing volumes of raw cocoa beans rose 3% in the third quarter year-over-year, slightly outperforming industry expectations, according to data released last week by the European Cocoa Association.
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(END) Dow Jones Newswires
October 20, 2017 04:58 ET (08:58 GMT)