Cocoa processing in Europe and Asia exceeds expectations in Q3

Cocoa processing: Cocoa processing is the industrial conversion of cocoa beans into ingredients such as cocoa butter and cocoa powder used in chocolate products. In the reported quarter, processing rose unexpectedly in both Europe and Asia, suggesting that demand is recovering more strongly than anticipated after a prolonged period of high chocolate prices. Demand: European cocoa grindings returned to year-over-year growth, while Asian processing reached its strongest quarterly level in the available historical series. Regional trend: The recovery was broad-based: European processing increased modestly and Asian grindings expanded sharply, exceeding market expectations. Supply-chain signal: Cocoa processing also strengthened in Côte d’Ivoire, indicating that improving activity was not limited to consuming regions.