Washington — Soaring above analysts’ estimates of a two to five percent increase, the North American cocoa grind rose 11.7 percent in the second quarter of 2013 compared with the same quarter the year prior, according to the NCA.
Cocoa added 2.1 on ICE Futures for September delivery, settling at $2,347 per ton on Thursday, following the news Ivory Coast has already sold forward 750,000 tons and an expected upcoming dry season in the region. Earlier in the week, futures climbed to their highest point in 10 months.
The report was compiled by data collected from 11 processors including ADM Cocoa, Mars Chocolate North America, The Blommer Chocolate Co., Cargill Cocoa & Chocolate Co. and The Hershey Co.
Reported earlier this week, the European cocoa grind also jumped 6.1 percent in the second quarter and the grind rose two percent in Asia.