Cocoa grindings in Malaysia, Asia's largest grinder, rose 10.8 percent in the first quarter of 2011 from a year before, the Malaysian Cocoa Board said on Friday, similar to gains in North America and Germany. Fears that unrest in Ivory Coast could disrupt the supply of beans gave a boost to grinders in Asia, Europe and North America earlier this year, with chocolate makers also stocking up ahead of the Easter holiday.
Cocoa grindings for the first quarter of 2011 increased to 81,419 tonnes from 73,498 tonnes in the same period of 2010, the MCB said in a statement. "The cocoa grindings in Malaysia for the first quarter of 2011 continued its strong growth performance registered during the closing quarter of 2010," it said.
Malaysia's total cocoa grinding for 2010 rose by 8.3 percent to 302,366 tonnes from 279,228 tonnes in 2009, the MCB said in January. Cocoa prices were steady on Friday, as cocoa processors utilised capacity around the world to compensate for the lost capacity in Ivory Coast.
Supplies from Ivory Coast were at a virtual standstill for more than two months, when a disputed presidential election in November spurred violence, EU sanctions and an export ban. In Germany, the first-quarter 2011 cocoa grind rose 22.7 percent on the year to 108,816 tonnes. The country's fourth quarter 2010 cocoa grind had risen only 6.2 percent on the year.
When processing beans, grinders get butter and cake, which is later pressed into powder. Butter is a key ingredient of chocolate products such as candy bars and is also used to make spreads and soaps, while powder is used for coatings in chocolate-making, beverages and ice cream.
Chocolate flies off the shelves in the main consuming regions of Europe and North America during Christmas at the end of the year, Valentine's Day in February, Easter in the spring, and other holidays.
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