Cocoa demand rose in the first quarter, according to closely watched indicators, a sign that food makers had access to adequate supplies of the main ingredient in chocolate despite political turmoil in Ivory Coast.
Cocoa grindings, which measure the amount of cocoa beans that are processed into powder, increased slightly in both North America and Europe.
Analysts say cocoa processors, such as Cargill Inc. and Barry Callebaut AG, turned to inventories amid supply disruptions caused by a ban on cocoa exports from Ivory Coast, the world's largest producer. The nation's internationally recognized president, Alassane Ouattara, called for the ban in late January and lifted it this week after the arrest of his political rival and the country's former president.
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