The recession is still taking its toll on chocolate consumption. Second quarter reports from around the world indicate that cocoa grindings, a key indicator of chocolate production, continue to decline.
North American cocoa processors report a second quarter decline of 6.75 percent over the same quarter last year. The total amount ground reached 105,123 tons.
Earlier reports showed a 22 percent decline (64,118 tons) in Malaysian grindings for the same quarter. Similarly, German cocoa grindings are down 15.3 percent (75,430 tons). For Europe as a whole, the decline amounted to 11.3 percent (291,763 tons).
So despite the current supply problems, there are corresponding demand reductions which keep the cocoa price fluctuating around the current level.