Higher Asia cocoa grind on better processing margins

KUALA LUMPUR: Cocoa grinding in Asia probably edged up in the first quarter as lower futures prices and higher cocoa-butter prices relative to beans improved processing margins.

Grinding rose 1% to 146,185 tonnes in the three months ended March 31 from 144,738 tonnes a year earlier, according to the median of seven estimates from analysts and traders surveyed by Bloomberg. Forecasts ranged from a decline of 10% to an increase of 10%. The Cocoa Association of Asia (CAA) will release the data today.