London — Indicating a demand for chocolate, European cocoa grind rose 6.1 percent in the second quarter of 2013 from the same period in the year prior, following six consecutive quarters of decline, according the European Cocoa Association.
The grind totaled 310,408 tons in Q2, representing the first year-on-year volume increase since 2011, however it was still below analysts’ expectations. According to a Reuters poll, the grind was expected to rise four to 10 percent and a Bloomberg poll predicted an 8.3 percent uptick.
North American cocoa has also a slight increase in demand. The NCA will release its grind data Thursday.