Cocoa Demand Recovery Bumpy as Europe Grinds Drop to 17-Year Low

A recovery in cocoa demand is proving choppy, as European grindings slump to the lowest first-quarter levels since 2009.

The data on grindings — the amount of beans processed into butter and powder for chocolate products — is seen as an indicator of demand, and the decline comes even as cheaper beans are starting to make their way through the supply chain.