Cocoa prices tumbled to fresh two-month lows on Wednesday, with September ICE NY cocoa closing down 279 dollars, or 4.98 percent, and September ICE London cocoa closing down 202 pounds, or 4.84 percent. The decline was driven by signs of tepid global demand, as the European Cocoa Association reported that second-quarter European cocoa grindings fell 4.6 percent to 316,366 metric tons, a larger decline than the expected 1.5 percent drop and the lowest second-quarter level in six years. However, North American grindings unexpectedly rose 7.7 percent to 109,659 metric tons, and Asian grindings surged 25 percent to 224,646 metric tons, partially offsetting demand fears. On the supply side, cumulative shipments from Ivory Coast reached 2.10 million metric tons so far this marketing year, up 21 percent from a year ago, while Nigerian June cocoa exports rose 30 percent to 18,922 metric tons. ICE cocoa inventories also climbed to a two-year high of 3,301,990 bags, adding to the bearish pressure.