Cocoa futures in both markets firm up following grinding data from Asia.
Cocoa processing in Asia rose 9.5% in the first quarter of 2019 from a year earlier, the latest data from the Cocoa Association of Asia (CAA) showed.
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North American cocoa grindings rose more or less within market forecasts, data from the National Confectioners Association (NCA) showed on Thursday (April 18).
Slightly better than expected European first quarter 2019 grind results failed to stop cocoa prices initially melting off last week’s final nine-month highs.
Cocoa port arrivals into Ivory Coast are still rising in year-ago comparisons, though percentage increases had a slip this week.
IEG Vu’s London office will be closed on Good Friday (April 19) and Easter Monday (April 22) due to UK national holidays.
Cocoa futures closed lower in both markets, but New York was weaker due to currency relationships between the US dollar and the GBP.
One of the three key European food shows, Alimentaria is promising greater focus on fin, organic, ‘free from’, halal and functional foods next year with a new product sector, Food Trends. The show is once again being held with Hostelco, which covers the Horeca industry.
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