Archive for category: Latest News

Abidjan, 31 August 2021 – The International Cocoa Organization today releases its revised forecasts for the 2020/21 cocoa year and revised estimates of world production, grindings, and stocks of cocoa beans for the 2019/20 cocoa year. The data published in Issue No. 3 – Volume XLVII – Cocoa year 2020/21 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of August 2021.

Though the pandemic triggered a shutdown of activities resulting in depressed commodity demand and supply disruptions, vaccination exercises have led countries to open and this is prompting a better outlook for commodities. Cocoa demand is seen to be recovering from the decline caused by the COVID-19 pandemic as the reopening of economies (retail facilities among others) has contributed to an improved utilization growth of cocoa. As far as cocoa supply is concerned, a record production is expected and a supply surplus is anticipated for the ongoing season.

For the current 2020/21 season, world production and grindings are projected to be higher than previously forecast. Compared to the figure published in the previous issue of the Bulletin, world production is forecast to attain a record level at 5.141 million tonnes (up by 117,000 tonnes).

The global production surplus is now forecast at 230,000 tonnes, compared with the Secretariat’s earlier projection of a surplus of 165,000 tonnes. Total statistical stocks of cocoa beans at the end of the 2020/21 season should therefore increase to 1.963 million tonnes, which is equivalent to 40.4% of the projected grindings for 2020/21.

Summary of forecasts and revised estimates

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLVII – No. 2 – Cocoa year 2020/21
b/  Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings
Totals may differ due to rounding.

This issue of the Bulletin contains the Secretariat’s revised forecasts for the 2020/21 cocoa year as well as data for the past four years of production and grindings of cocoa beans, detailed by country. The main features of the global market are illustrated in colour charts. In addition, the Bulletin includes comments on the crop and demand prospects in the leading countries for the current season, a review of price developments on international markets for cocoa beans during the April-June quarter of 2021 and the evolution of trade flow data estimated for major cocoa exporting and importing countries during the January – March 2021 quarter of the 2020/21 season.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers crop year data from 2017/18 to 2019/20 and quarterly statistics for the period July-September 2019 to January-March 2021. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided. Historical statistics on cocoa trade by country and by region, for the period 2011/12 to 2019/20 are presented for reference.

Copies of the May 2021 Quarterly Bulletin of Cocoa Statistics, in Microsoft Excel and Adobe PDF formats, can be ordered from the new ICCO e-Shop: www.icco.org/shop or by email: statistics.section@icco.org

Abidjan, 17 July 2021 – The International Cocoa Organization today releases the Cocoa Market Report for June 2021. The current report highlights the following insights:

• Prices of the front-month cocoa futures contract declined by 4% in London whilst in New York, a 3% plunge was
  recorded.
• Certified stocks in exchange licensed warehouses continued to increase in Europe and the United States.
• Compared to 2019/20, cocoa graded on the exchange since the start of 2020/21 went up by 15,110 tonnes from
  104,270 tonnes in Europe and by 74,838 tonnes from 16,354 tonnes in the United States.
• Origin differentials further waned year-over-year in June on both sides of the Atlantic.
• Cocoa production in Côte d’Ivoire and Ghana is envisaged to reach unprecedent volumes.

You can download the complete report from our Statistics section

Abidjan, le 9 juillet 2021. Le Conseil International du Cacao, lors de sa session spéciale tenue du 6 au 8 juillet 2021, a prorogé la durée du 7ème Accord International sur le Cacao de 2 années, jusqu’au 30 septembre 2024. Cet Accord, entré en vigueur en 2012, avait une durée initiale de 10 ans, et aurait expiré le 30 septembre 2022, sans cette prorogation du Conseil.

Le 7ème Accord International sur le Cacao, maintenant dans sa neuvième année, a permis aux pays exportateurs et importateurs de cacao, ainsi qu’à de nombreuses autres parties prenantes, de coopérer au niveau international, dans le but d’atteindre une économie mondiale durable du cacao. Cette décision de proroger l’Accord démontre l’engagement résolu des 51 membres de l’Organisation Internationale du Cacao de continuer à travailler au renforcement de l’économie cacaoyère mondiale et à soutenir son développement durable.

Le Conseil International du Cacao a chargé son Président, l’Ambassadeur Aly Touré de Côte d’Ivoire, de transmettre la décision de prorogation du 7ème Accord International sur le Cacao au Secrétaire général des Nations Unies qui fait office de dépositaire de l’Accord.

Cette session du Conseil International du Cacao a également permis des progrès significatifs en vue d’atteindre un consensus sur les recommandations relatives à la révision de l’Accord International sur le Cacao. Le Conseil s’est mis d’accord sur environ 95% des amendementsrecommandés de l’Accord. Le Conseil procédera à la révision des derniers amendements lors de sa prochaine session de septembre 2021.

Les amendements proposés apporteront plus de clarté et de simplification à de nombreux articles de l’Accord afin de renforcer l’impact de leur application et de leur mise en œuvre. En outre, les amendements proposés rendront l’Accord plus pertinent par rapport aux développements actuels dans l’économie cacaoyère mondiale, en concentrant ses objectifs et ses actions en vue de l’obtention de meilleurs revenus pour les cacaoculteurs.

Abidjan, 23 June 2021 – The International Cocoa Organization today releases the Cocoa Market Report for June 2021. The current report highlights the following insights:

• Prices of the nearby cocoa futures contract on the London and New York markets went up by 6% and almost 4%
  respectively over May 2021.
• 72,230 tonnes of cocoa beans were exchanged against the MAY-21 contract, up from 20,330 tonnes tendered against
  the MAY-20 contract.
• Hedgers increased their net short positions from 8,494 contracts to 11,294 contracts in Europe while in the United
  States, they decreased their net short positions from 35,752 contracts to 31,866 contracts.
• Certified stocks in exchange licensed warehouses continued to climb in May on both sides of the Atlantic.
• Global forecast of cocoa supplies excess for 2020/21 perked at 165,000 tonnes at the end of May.

You can download the complete report from our Statistics section