European First-Quarter Cocoa Grind Up 0.4% On Year

By Ben Winkley

LONDON--Europe's first-quarter cocoa grindings rose incrementally from the year-earlier period, according to figures published Thursday by the Brussels-based European Cocoa Association showed.

The ECA said 340,735 metric tons of beans were processed in the first three months of the year, a rise of 0.4% from the 339,377 tons processed in the same period of 2013.

The continent's grindings data--which measure the amount of cocoa beans processed--are regarded as a proxy for chocolate demand.

ECA members account for two-thirds of European cocoa bean grindings, half of Europe's industrial chocolate production, as well as 40% of the global production of cocoa liquor, butter and powder.

ECA grinding members include ADM Cocoa, a unit of Archer Daniels Midland Co. (ADM); Barry Callebaut AG (BARN.EB); Delfi Cocoa Europe, a division of Petra Foods Ltd. (P34.SG); ECOM/Dutch Cocoa; Cargill Cocoa & Chocolate; and Nederland SA.

Bean processors include Cioccolato Peyrano, Euromar, Ferrero SPA, Nestle SA (NESN.VX), Mondelez International Inc. (MDLZ) and Toms.

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