Low prices play a role in cocoa grinds' high

The NCA reported an 11.8% increase in North America cocoa grindings for the second quarter, to a record 126,044 metric tons, but the increase isn't due to higher consumer demand for chocolate. Cocoa powder is used in a range of food products and can be stored, so many processors stocked up in light of lower prices. “I think that the market, the beans (prices), were low and people did take advantage of that,” said Gary Guittard, president and chief executive officer of Guittard Chocolate, who also said chocolate sales are increasing.

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