Par Isis Almeida – avec l’aide d’Anuradha Raghu pour Bloomberg.com – Publié le 2019-01-15 –
Grinding in Europe, the top-consuming region, likely rose 2 percent in the fourth quarter to the highest for that period going back to 2001, the median estimate in a Bloomberg survey of 14 traders, brokers, processors and analysts showed. In North America, processing probably gained 2.5 percent to the highest for that quarter since 2014, according to the median estimate.
Processing profits have been hovering around the highest in more than a decade in Europe and while les profits de la transformation ont surpassé les plus hauts enregistrés sur plus d’une décennie a measure of grinding profitability has been in decline recently in the U.S., it’s still at an elevated level compared with the previous 10 years, according to KnowledgeCharts, a unit of Commodity Analysis. The European Cocoa Association will release the data on Wednesday and the Washington-based National Confectioners Association the day after.
European processing probably rose to 360,352 metric tons in the fourth quarter from a year earlier. Survey responses ranged from no increase to a gain of 4 percent. In North America, processing is seen at 118,982 tons, with responses varying from a 1 percent gain to a 4.9 percent. The total for both regions would still be lower than the previous quarter.
Demand is expanding in Asia too. Malaysian cocoa grindings jumped 23 percent on year in the fourth quarter to 72,451 tons, according to the country’s Cocoa Board on Tuesday. The Cocoa Association of Asia is scheduled to release data on Friday, covering processing in Malaysia as well as members in Singapore and Indonesia.