North America Cocoa Grindings Fall 3.8% in Q1 2026, Signaling Weak Demand Recovery
North American cocoa processing declined in the first quarter of 2026, reflecting softer demand conditions across the region. Data released by the National Confectioners Association shows cocoa grindings totaled 106,087 metric tons, a 3.8% decrease compared to the same period last year.
The result came in at the lower end of market expectations, which had ranged from a slight contraction to modest growth. Cocoa grind data is closely monitored by traders and industry participants as a proxy for demand in the chocolate sector.
Despite an increase in reporting participation, 15 plants submitted data versus 14 a year earlier, overall grind volumes still fell. The decline follows a sharp correction in cocoa prices, which have dropped roughly 70% since reaching record highs in late 2024. Elevated prices had previously suppressed consumption, and the market is still adjusting.
Brazil’s data is still pending and expected later.
Cocoa Intel
