Forecast Cocoa grinding in Asia September 2015 : Cocoa grinding in Asia probably declined 5% in the third quarter as higher prices squeezed profit margins for confectionery makers.
Processing fell to 144,061 metric tons in the three months ended Sept 30 from 151,643 tons a year ago, according to the median of eight analyst and trader estimates in a Bloomberg survey. That would be the lowest for the July–September quarter since 2012, Cocoa Association of Asia data on its website show. Forecasts ranged from declines of 4% to 7%. The group will release data Oct 23, with figures from Indonesia, Malaysia and Singapore.
The commodity is heading for its fourth annual gain as output in Ghana, the second-biggest producer, fell amid concern El Nino threatens crops. Prices may rise to US$3,150 a ton in the fourth quarter due to dryness in West Africa and Indonesia, Rabobank International said last month. Grinding in North America declined for a fourth quarter, extending the longest slump since 2009, the National Confectioners Association said last week.
Processing fell to 144,061 metric tons in the three months ended Sept 30 from 151,643 tons a year ago, according to the median of eight analyst and trader estimates in a Bloomberg survey. That would be the lowest for the July–September quarter since 2012, Cocoa Association of Asia data on its website show. Forecasts ranged from declines of 4% to 7%. The group will release data Oct 23, with figures from Indonesia, Malaysia and Singapore.
The commodity is heading for its fourth annual gain as output in Ghana, the second-biggest producer, fell amid concern El Nino threatens crops. Prices may rise to US$3,150 a ton in the fourth quarter due to dryness in West Africa and Indonesia, Rabobank International said last month. Grinding in North America declined for a fourth quarter, extending the longest slump since 2009, the National Confectioners Association said last week.
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