Singapore-based Petra Foods Ltd. said its cocoa processing plants are still operating before a proposed acquisition by Barry Callebaut AG, the world’s biggest maker of bulk chocolate and a supplier to Nestle SA.
The cost of cocoa butter relative to bean prices rebounded in Europe in the past six weeks as demand improved and processors adjusted to lower powder prices, according to three traders with direct knowledge of the sales.
Swiss stocks rose, rebounding from last week’s decline, as investors waited for Alcoa Inc. to kick off the U.S. earnings season, and a report showed German industrial output rose more than forecast in February.
Cocoa processing in North America probably fell during the first quarter amid sluggish economic growth and as more chocolate makers operate plants in African and Asian countries that grow the beans, a survey showed.
Cocoa prices, which averaged about $2,328 a metric ton this year, will trade sideways in the season that started last month, according to chocolate makers Barry Callebaut AG and Mondelez International Inc.