Cocoa grind for reporting entities in Europe reached 356,109 MT in the second quarter of 2018, according to ECA. Up more than 7 percent from Q2 2017, this unexpectedly robust growth added some bullish sentiment to the market, at least momentarily.
Bullish grind figures are being countered by reports of strong output of West African beans. And while concerns about bean quality remain, conditions have been favorable for the 2018/19 main crop ahead.
Q2 2018 grind was down about 0.6 percent from Q1, but this is only a fraction of the usual decline seen for Q2 every year, which has averaged 6 percent in recent years.
For North America, Q2 2018 grind figures are expected to show anemic growth at best.
European cocoa grind quarterly history
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