European second-quarter cocoa grind falls 1%
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KANSAS CITY — European second-quarter cocoa bean grind fell about 1% from the same period a year earlier, the European Cocoa Association said.
Second-quarter grind was 307,938 tonnes, down about 1% from 310,188 tonnes in the April-June period of 2013, the association said. Year-to-date cocoa bean grind of 650,600 tonnes was up slightly from 649,565 tonnes in the same period last year due to stronger first-quarter grind. Cocoa bean grind is seen as a gage for chocolate demand.
London and New York cocoa bean futures prices declined after the data were released. The trade had expected weaker grind due to poor margins for processors, but the decline was greater than expected, trade reports indicated.
The National Confectioners Association will release second-quarter North American cocoa grind data next week.