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4-Traders Homepage  >  Equities  >  Nyse  >  Archer-Daniels-Midland Company    ADM

ARCHER-DANIELS-MIDLAND COMPANY (ADM)
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European 1Q Cocoa Grindings Fall 0.1% On Year - ECA

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04/13/2012 | 02:19pm CEST

(Adds comment in paragraphs 4-7)

European cocoa grindings decreased 0.1% on the year during the first quarter of 2012, to 353,311 metric tons, figures from the European Cocoa Association showed Friday.

Indeed, the new data reveal the first year-on-year fall in grindings for a quarter since the final three months of 2009-10.

Cocoa grindings in Europe--a key measure of demand for the chocolate ingredient--had run sharply ahead of the previous year throughout most of 2011, before growth tailed off in the final quarter.

"European grind data was probably a bit better than a lot of cocoa manufacturers and processors expected, with the consensus expectation being a bit weaker than the final figure," said Jonathan Parkman, co-head of Agriculture Commodities at Marex Spectron.

"However, it is very foolhardy to take the European grind number as a proxy for what is going on in the world. Despite being a large part of the global grind, the figure by no means tells you what's going on everywhere," he added.

The brokerage's analysis of major grinding areas, which account for around 75% of global demand, suggests that total grind for the first quarter of 2012 increased by approximately 3% compared with the same quarter of the previous year.

However, with North American grind data for the first quarter due for publication on April 19, Parkman said the market is expecting a slightly negative release, with grindings likely to be unchanged or lower. The region's data are always important as they cover a large geographic area, he added.

The ECA said it had upwardly revised its estimate for the fourth quarter of 2011 by 435 tons to 349,790 tons, following corrected figures submitted by one or more reportees.

The ECA accounts for around two-thirds of European cocoa grindings. ECA grinding members are ADM Cocoa, a unit of Archer Daniels Midland Co. (>> Archer Daniels Midland Company); Barry Callebaut AG (>> Barry Callebaut AG); Delfi Cocoa Europe, a division of Petra Foods Ltd. (P34.SG); ECOM/Dutch Cocoa; Gerkens Cacao, a unit of Cargill Inc; and Nederland.

Bean processors are Cioccolato Peyrano, Euromar, Ferrero SPA, Fuchs & Hoffmann, Hachez, Herza, Icam, Kessko, Kraft Foods Inc. (KFT), Ludwig, Majani, Natra, Nestle SA (NESN.VX), Schokinag, Schwartauer Werke, Storck, Weinrich and Toms.

-By Michael Haddon, Dow Jones Newswires; 4420-7842-9289; [email protected]

Stocks mentioned in the article : Archer Daniels Midland Company, Barry Callebaut AG
Stocks mentioned in the article
ChangeLast1st jan.
ARCHER-DANIELS-MIDLAND COMPANY -0.02% 45.49 Delayed Quote.13.52%
BARRY CALLEBAUT 0.17% 1800 Delayed Quote.-11.61%
DELFI LTD -2.00% 1.47 End-of-day quote.0.00%
KRAFT FOODS INC --End-of-day quote.
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Financials ($)
Sales 2018 62 406 M
EBIT 2018 1 956 M
Net income 2018 1 661 M
Debt 2018 5 263 M
Yield 2018 2,39%
P/E ratio 2018 15,55
P/E ratio 2019 14,46
EV / Sales 2018 0,49x
EV / Sales 2019 0,47x
Capitalization 25 429 M
Chart ARCHER-DANIELS-MIDLAND COM
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Archer-Daniels-Midland Com Technical Analysis Chart | ADM | US0394831020 | 4-Traders
Technical analysis trends ARCHER-DANIELS-MIDLAND COM
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 16
Average target price 46,2 $
Spread / Average Target 1,6%
EPS Revisions
Managers
NameTitle
Juan Ricardo Luciano Chairman, President & Chief Executive Officer
Ray G. Young Chief Financial Officer & Executive Vice President
Todd A. Werpy Chief Technology Officer & Senior Vice President
Kristy J. Folkwein Chief Information Officer & Senior Vice President
Patrick J. Moore Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCHER-DANIELS-MIDLAND COMPANY13.52%25 429
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MONDELEZ INTERNATIONAL-6.29%59 492
DANONE-5.10%54 701
ASSOCIATED BRITISH FOODS-6.70%29 154