North American Cocoa Grindings Increase
April 23, 2013
Washington — Up 5.8 percent from the year prior, North American cocoa grind totaled 125,887 tons in the first quarter of 2013, according to the NCA’s quarterly grinds report.
The increase in grindings is a result of better overall economic conditions, according to Tom Earley, commodities expert and executive vice-president at Agralytica Inc., and is a contrast from Europe’s grindings, which reached a five-year low in the first quarter, the European Cocoa Association reports.
“We have some growth in the economy here, and in Europe they’re still suffering from pretty stagnant economic conditions,” Earley tells NCA Journal. “The prices of confectionery are going to be affected similarly there and here because we both have had high sugar prices and are equally subject to price fluctuations. The grinding results are entirely about broader economic conditions.”
Archer Daniels Midland Co., Barry Callebaut AG, The Blommer Chcoolate Co., Cargill Cocoa & Chocolate Co., Ecom Agroindustrial Corp. Ltd., Ghirardelli Chocolate Co., Guittard Chocolate Co., The Hershey Co., Mars Chocolate North America, Nestle Chocolate & Confections and World’s Finest Chocolate, Inc. all contribute to the grindings report. The next report is scheduled to be released July 18.
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