Year on Year grind (Q3-15 vs Q3-14) showing slight decline of 1.64%; however Q3-15 showed a modest improvement over Q2-15 with an increase of 4.8%.
Improvement in Q3-15 grind vs Q2-15 grind was driven in part by improved processing margins.
Outlook in the region is cautiously optimistic. Macro factors (e.g. weakening local currencies vs USD) are putting some pressure on imports and finished goods margins, however the region as a whole continues to see positive GDP growth and consumer interest in cocoa and chocolate products remains healthy.