The world just can't get enough chocolate.
That's become evident after all three main processing regions reported cocoa grindings, a proxy for demand, climbed in the third quarter from a year earlier.
As margins surged, bean processing in Europe jumped 2.7 per cent to the highest since 2011. In Asia, the measure rose 3.7 per cent, while in North America the data surprised, posting a gain of 2.5 per cent when traders had forecast a decline.
"These were very good, solid numbers," said Jonathan Parkman, co-head of agriculture at Marex Spectron Group in London. "There's no evidence global demand is slowing and the impressive trend from last year is continuing."
The global chocolate confectionery market expanded 2.5 per cent in the nine months through April, reversing a drop of 2.2 per cent a year earlier, Barry Callebaut, the top cocoa processor, said in a July earnings presentation, citing data from analytics firm Nielsen.