UPDATE 1-North American 2015 cocoa grind takes record hit after weak Q4

(Recasts; adds background, milestones)
By Marcy Nicholson
NEW YORK, Jan 21 (Reuters) - Cocoa processing in North
America took its biggest annual tumble in 2015 after falling
below expectations in the fourth quarter, National Confectioners
Association data showed on Thursday, after chocolate makers
raised prices.
Cocoa processors in the United States, Mexico and Canada
reported grinding 118,896 tonnes in the last three months of
2015, down 3.25 percent from the same quarter a year earlier.
This was below expectations of 1 percent lower to 5 percent
higher, with most traders who spoke to Reuters forecasting a 1
percent rise.
For the 2015 calendar year, the region's grind totaled
484,992 tonnes, the lowest volume since 2012 and down 7 percent
from a record high in 2014. Cocoa grindings are a traditional
gauge of demand for chocolate's key ingredient and the annual
drop is the biggest since the NCA began combining data from all
three countries in 2009.
It was the fifth straight weak quarter following two years
of quarterly increases after chocolate makers responded to
soaring commodity costs by raising prices while weak processing
margins deterred grinders from building up inventories.
This quarter was the first for the 2015/16 crop year and
came after data showed Europe's grind for the same period rose 6
percent to 342,442 tonnes.
The weak data came as ADM Cocoa ADM.N , which has since
been sold to Olam International OLAM.SI , and World's Finest
Chocolate Inc, did not participate in the survey as they had a
year prior.
The nine companies that took part in the North American
survey are: Barry Callebaut BARN.S , Blommer Chocolate Co,
Cargill Cocoa & Chocolate Co, ECOM, Ghirardelli Chocolate Co,
Guittard Chocolate Co, Hershey Co HSY.N , Mars Chocolate North
America, Nestle Chocolate & Confections NESN.VX .