European 2Q Cocoa Grindings Slump 18% on Year - ECA
07/12/2012| 04:44am US/Eastern
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By Neena Rai
European cocoa grindings slumped almost 18% on the year during the second quarter 2012, to 292,551 metric tons, figures from the European Cocoa Association showed Thursday.
For the first six months of 2012 total grindings fell 9%, to 645,862 tons from 710,366 tons a year earlier.
Cocoa grindings in Europe--a key measure of demand for the chocolate ingredient--had run sharply ahead last year compared with 2010, before growth tailed off in the final quarter of 2011.
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. (>> Kraft Foods Inc), Ludwig, Majani, Natra, Nestle SA (NESN.VX), Schokinag, Schwartauer Werke, Storck, Weinrich and Toms.
-Write to Neena Rai at neena.rai@wsj.com
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