The World Can’t Get Enough Chocolate

The world seems to be going loco for cocoa.

That’s become evident after all three main processing regions reported cocoa production climbed in the third quarter from a year earlier.

As margins surged, bean processing in Europe jumped 2.7 percent to the highest level since 2011.

In Asia, the measure rose 3.7 percent, while in North America the data surprised, posting a gain of 2.5 percent when traders had forecast a decline.

“These were very good, solid numbers,” said Jonathan Parkman of 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 percent in the nine months through April, reversing a drop of 2.2 percent a year earlier, Barry Callebaut, the top cocoa processor, said in a July earnings presentation.

High demand for cocoa butter, a key ingredient in chocolate, and relatively cheap cocoa prices, have sent a measure of processing prof itability to the highest in more than a decade.

“Every one of the published grinds were a little bit stronger than I thought,” Parkman said. “The reason why I was less optimistic about the grinds is because the base numbers had already jumped last year.”

Benchmark cocoa futures for December delivery jumped in New York, where prices rose as much as 1.8 percent, to $2,183 a metric ton.