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BAHIA, Brazil — Brazil’s cocoa processing declined 4.8% in the second quarter, signaling a drop in demand on the domestic market, Bloomberg reported.
Brazil produced about 57,702 metric tons of cocoa in the second quarter, including 19,136 tons in June, which was down 5.6% from the same month last year.
“The drop of volume for the second month in a row could be a signal of the falling demand on the domestic market,” said Thomas Hartmann, an analyst who compiles the nation’s cocoa statistics.