Jonathan Parkman News
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Cocoa processing in Asia, a sign of demand for the chocolate ingredient, fell 11 percent in the first quarter, according to an industry group representing companies including Mars Inc.
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Cocoa processing in North America unexpectedly gained for a second straight quarter, signaling increasing consumption.
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Cocoa swung between losses and gains in New York after a rally yesterday and as data showed bean processing in Europe, the world’s main consuming region, remained weak. Sugar slid and coffee advanced.
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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.
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Cocoa fell in London after European bean processing in the fourth quarter dropped to the lowest in seven years. Sugar also slid.
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Global cocoa usage may drop for the first time in three years as grinders use cocoa butter stockpiles instead of processing the beans to meet demand in the $108 billion chocolate market.
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European cocoa-bean processing may have been bigger than reported in the third quarter because Fuchs & Hoffmann GmbH, a grinder in Germany that provided no figures for the period, was processing at full capacity.
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Cocoa demand will exceed supplies by 94,000 metric tons in the 2011-12 season started in October, reversing a previous forecast for a surplus of 32,000 tons, Marex Spectron Group said.
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Cocoa grinders are increasing output by the most in two years to meet record demand for chocolate, at a time when declining West African supply means the first shortages of beans in three seasons.
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NYSE Liffe will implement new rules to accelerate warehouse deliveries of robusta coffee traded on the exchange in London after companies including Armajaro Trading Ltd. complained about delays.
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