The International Cocoa Organization celebrates 50 years of commitment to sustainable cocoa and a living income for farmers

On 3 October 2023, the International Cocoa Organization (ICCO) celebrated its 50th anniversary at a ceremony held in Abidjan, Côte d’Ivoire, to mark half a century of commitment to sustainable growth in the cocoa sector and a living income for cocoa farmers worldwide.

The event, attended by over 1,000 guests, was graced by the presence of the President of the Republic of Côte d’Ivoire, His Excellency M. Alassane OUATTARA, and His Excellency M. Nana AKUFFO-ADDO, President of the Republic of Ghana.

Patrick ACHI, Prime Minister, Head of Government of Côte d’Ivoire, the Presidents of Institutions, Dr. Souleymane DIARRASSOUBA, Minister of Trade, Industry and SME Promotion, other Members of the Ivorian Government and the Director General of the Côte d’Ivoire Coffee-Cocoa Council also played an active part in this event.

Representatives of the ICCO’s 52 Member countries, the Diplomatic Corps, international organisations, civil society and the local and international private sector came together to voice their support for the Organization’s work.

Professor Chalmin of Paris Dauphine University gave a lecture entitled “The ICCO, the sustainability of the world cocoa economy and a living income for producers”.

This 50th anniversary celebration provided a chance not only to look back on the Organization’s achievements but also to reflect on the future challenges facing the cocoa sector.

Established in 1973 under the auspices of the United Nations Conference on Trade and Development, and operating through successive International Cocoa Agreements, the ICCO has played a major role in advocating the sustainability of the cocoa sector and a living income for producers.

Over the years, the Organization has become a reference centre and source of statistical information on the world cocoa economy, facilitating policy dialogue and international cooperation between its exporting and importing Members, as well as with private sector players.

Initially based in London, the International Cocoa Council – the Organization’s supreme decision-making body – voted in favour of relocating to Abidjan in 2017, at the invitation of the government of Côte d’Ivoire.

For further information, please contact:   info@icco.org

108th International Cocoa Council and Subsidiary Bodies, 02 – 06 October 2023, Abidjan, Côte d’Ivoire

Abidjan, 28 September 2023 – The International Cocoa Council and subsidiary bodies, including the Consultative Board on the World Cocoa Economy and the Economics and Administration and Finance Committees, will meet from 02 to 06 October, 2023.

This information is restricted to ICCO Members. Please go to Member area for more information.

Timetable of Meetings, 02-06 October 2023, Abidjan, Côte d’Ivoire

 

MEETING
46th Consultative Board  (Monday, 02 October)

09:00 – 17:00 GMT
Official celebration of the 50th anniversary (Tuesday, 03 October)

09:00 – 13:30 GMT / Gala Dinner 19:00 – 22:30
Opening of the 108th International Cocoa Council and 21st Economics Committe (Wednesday, 04 October)

09:00 – 17:00 GMT
21st Economics Committe, 24th Administration and Finance Committee* and 108th International Cocoa Council (Thursday, 05 October)

09:00 – 17:00 GMT
 108th International Cocoa Council (Friday, 06 October)

09:00 – 17:00 GMT

 

Cocoa Market Report for August 2023

Abidjan, 19 September 2023 – The International Cocoa Organization releases the Cocoa Market Report for August 2023. The current report highlights the following insights:

  • Price rallies in August were influenced by the decline in supplies for the current season as well as concerns for the upcoming 2023/24 season.
  • The front month futures prices averaged US$3,453 per tonne and ranged between US$3,323 and US$3,730 per tonne in London. In New York, the average price was US$3,416 per tonne and ranged between US$3,269 per tonne and US$3,633 per tonne.
  • A year ago, the front-month prices were at an average of US$2,041 per tonne London and settled at an average of US$2,369 per tonne in New York.
  • Month of August witnessed high premiums.
  • Should we expect a repeat of chocolate shrinkflation as manufacturers grapple with high prices of cocoa beans?
  • Or will the soaring cost of cocoa be passed on to consumers and will we see more pushbacks from retailers if manufacturers increase their prices?

You can download the complete report by clicking here.

 

August 2023 Quarterly Bulletin of Cocoa Statistics

Abidjan, 31 August 2023 – The International Cocoa Organization today releases its revised forecasts for the 2022/23 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for the 2021/22 cocoa year. The data published in Issue No. 3 – Volume XLIX – cocoa year 2022/23 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of August 2023.

The commentary of the Bulletin highlights that the 2022/23 season is contending with faltering production, growth in demand and relatively high prices.

The turnaround in grinding activities in origin countries has supported the growth in global grindings. Nevertheless, this is not enough to offset the negative grindings in the traditional consuming regions. An observation pointed out in the Bulletin is that there are more exports of semi-finished products from top producing countries to Europe, Southeast Asia and North American Free Trade Agreement (NAFTA) countries.

Cocoa prices, in turn, have garnered more support from the combination of the current cocoa supply and demand situation and are hovering at high levels. A review of price developments on international markets for cocoa beans during the April-June quarter of 2023 is also presented.

Summary of forecasts and revised estimates

 

Cocoa year
(Oct-Sep)		 2020/2021 2022/2023 Year-on-year change
Revised
estimates		 Previous
forecasts a/		 Revised
forecasts
(thousand tonnes) (Per cent)
World gross production 4 826 4 980 4 938 + 112 + 2.3%
World grindings 4 994 5 072 5 005 + 11 + 0.2%
Surplus/deficit b/ – 216 – 142 – 116
 
End-of-season stocks 1 843 1 632 1 727 – 116 – 6.3%
Stocks/Grindings ratio 36.9% 32.2% 34.5%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIX – No. 2 – Cocoa year 2022/23
b/  Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings. Totals may differ due to rounding

 

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 2019/20 to 2021/22 and quarterly statistics for the period July-September 2021 to January-March 2023. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided.

Caution should be exercised in the interpretation of the data in this issue of the Bulletin as they may be subject to revisions in subsequent Bulletins and reports from the Secretariat.

Copies of the 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

Cocoa Market Report for July 2023

Abidjan, 18 August 2023 – The International Cocoa Organization releases the Cocoa Market Report for July 2023. The current report highlights the following insights:

  • Grindings published by the main regional cocoa associations for the second quarter of 2023 indicated an overall plunge in cocoa processing activities in the traditional consuming regions, namely, Europe, North America, and Southeast Asia.
  • The increase in cocoa processing in Côte d’Ivoire absorbed a large part of the reduction (59,794 tonnes) in grindings of the three main regional cocoa associations.
  • Despite the currently low level of arrivals in Côte d’Ivoire, historical information outlined that the weekly arrivals in the country are regularly subject to revisions, and should this occur for the 2022/23 arrivals figures, production in Côte d’Ivoire for 2022/23 might end up being higher year-on-year.
  • In July, prices of the front-month contract averaged US$3,425 per tonne and ranged between US$3,221 and US$3,628 per tonne in London while in New York, they averaged US$3,391 per tonne and oscillated between US$3,230 and US$3,559 per tonne.
  • Compared to the average prices recorded a year ago (US$2,061 per tonne in London and US$2,315 per tonne in New York), the average prices seen in July 2023 represented significant increases of 66% and 46% respectively.

You can download the complete report by clicking here.

 

Call for bids to host the 3rd edition of the International Symposium on Cocoa Research, 2025

Abidjan, Côte d’Ivoire, 31 July 2023. The Executive Director of the International Cocoa Organization (ICCO) is pleased  to announce that the ICCO Members will select the country hosting the 3rd edition of the International Symposium on Cocoa Research (ISCR), scheduled for the second semester of 2025, during the 108th regular session of the International Cocoa Council in Abidjan, Côte d’Ivoire, in October 2023.

The International Symposium on Cocoa Research (ISCR), organised by the ICCO, is a 4-day event during which cocoa scientists from different academic disciplines exchange their latest findings and agree on priorities for collective actions. A Scientific Committee, to be established by the ICCO, will be in charge of the programme and the selection of abstracts to be presented at the Symposium under the guidance of the ICCO Secretariat. The 1st edition of the ISCR was held in Lima, Peru in November 2017; and the 2nd edition was held in Montpellier, France in December 2022.

To ensure equal representation as ISCR hosts between exporting and importing ICCO Members and within each group of Members, the Secretariat is inviting exporting ICCO Members from Africa or Asia to send to the Secretariat their official bids to host this event by 01 September 2023, close of business.

For further information or enquiries about bidding for the 3rd International Symposium on Cocoa Research, please contact Mr José Jiménez Puerta, Economist, International Cocoa Organization; tel: +225 27 22 51 49 60; email: jose.jimenez-puerta@icco.org

Cocoa Market Report for June 2023

Abidjan, 17 July 2023 – The International Cocoa Organization releases the Cocoa Market Report for June 2023. The current report highlights the following insights:

  • In Europe, cocoa beans originating from Ghana and Côte d’Ivoire traded with the highest premium followed by Ecuadorian and Nigerian cocoa beans; while in the United States African origins received a higher premium compared to Ecuador.
  • In the course of June 2023, the global cocoa market was bullish and prices of the front-month contract were substantially higher year-on-year, generally above the symbolic threshold of US$3,000 per tonne, on both the London and New York markets.
  • The market was mostly constrained by the uncertainties surrounding the supply side due in part to the adverse meteorological conditions that prevailed in Côte d’Ivoire.

You can download the complete report by clicking here.

 

Cocoa Market Report for May 2023

Abidjan, 20 June 2023 – The International Cocoa Organization releases the Cocoa Market Report for May 2023. The current report highlights the following insights:

  • Cocoa futures prices are currently hovering above US$3,000 and £2,300 per tonne in New York and London respectively.
  • Recent heavy downpours have been reported in major producing countries and have led to heightened fears of disease outbreaks as well as over the quality of the mid-crop cocoa beans.
  • The growing concern over an El Niño climatic phenomenon developing later in the year has been making the headlines.
  • though fertilizer prices are progressively declining, historically they are still significantly high and this could deter farmers from its usage, which could in turn affect cocoa production.

You can download the complete report by clicking here.

 

May 2023 Quarterly Bulletin of Cocoa Statistics

Abidjan, 31 May 2023 – The International Cocoa Organization today releases its revised forecasts for the 2022/23 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for the 2021/22 cocoa year. The data published in Issue No. 2 – Volume XLIX – Cocoa year 2022/23 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of May 2023.

One certainty for the ongoing 2022/23 season is the occurrence of a supply deficit, although compared to the 2021/22 season, the 2022/23 global production is projected to increase by 3.4% to 4.980 million tonnes. Grindings are expected to rise by 1.5% to 5.072 million tonnes.

Although a positive growth in cocoa production is underway for the season under review, yields are likely to be impacted by the weather such as the looming El Niño as well as other factors including diseases, fertilizer inputs, husbandry practices among others.

With regards to the increase in cocoa grindings, the commentary of the Bulletin highlights the recent efforts by top producing countries to move towards the downstream products instead of exporting raw cocoa beans. Indeed, cocoa processing has held up well at origin and this may have caused unintended adverse consequences such as low exports of cocoa beans from top producing countries to importing countries.

Another market development pointed out in the Bulletin is the build-up of cocoa inventories at the exchange, despite the assurance of a supply deficit for the 2022/23 season. Certain possibilities alluded to the relatively high level of stocks at the exchange are mentioned.

A review of price developments on international markets for cocoa beans during the January-March quarter of 2023 is also presented.

Summary of forecasts and revised estimates

 

Cocoa year
(Oct-Sep)		 2020/2021 2021/2022 Year-on-year change
Revised
estimates		 Previous
forecasts a/		 Revised
forecasts
(thousand tonnes) (Per cent)
World gross production 4 818 5 017 4 980 + 162 + 3.4%
World grindings 4 995 5 027 5 072 + 77 + 1.5%
Surplus/deficit b/ – 225 – 60 – 142
 
End-of-season stocks 1 774 1 652 1 632 – 142 – 8.0%
Stocks/Grindings ratio 35.5% 32.9% 32.2%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIX – No. 1 – Cocoa year 2022/23
b/  Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings. Totals may differ due to rounding

 

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2019/20 to 2021/22 and quarterly statistics for the period April-June 2021 to October-December 2022. Details on destinations of exports and origins of imports for leading cocoa exporting countries are also provided.

Copies of the 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

Release of new edition of manual on Pesticide Use in Cocoa

Abidjan, 23 May 2023 – The International Cocoa Organization (ICCO) in collaboration with the European Cocoa Association (ECA), the Association of Chocolate, Biscuit and Confectionery Industries of Europe (CAOBISCO), and the Joint Cocoa Research Fund (JRF) has released the fourth edition of the manual of Pesticide Use in Cocoa. This latest edition provides more guidelines on the safe and effective use of pesticides in cocoa production.

Chocolate and other cocoa products are delicacies that people all over the world love and enjoy. The key ingredient in these delicacies is derived from cocoa beans, also known as the “food of the gods”, and popularly renowned for its ancient history as well as its health and nutritional attributes.

The use of chemical control measures to manage cocoa pests and diseases could cause food safety concerns if pesticide application is not done in the prescribed manner, leading to residues above maximum prescribed levels for chemical compounds that are dangerous to the health of the consumers.

Our priority is the production of wholesome cocoa beans, which are safe for consumption. In this respect, the International Cocoa Organization (ICCO), in close cooperation with the cocoa industry, publishes a manual of Pesticide Use in Cocoa providing broad guidelines on the choice and application of pesticides used in the cocoa supply chain. The first, second and third editions of the manual were published in 2008, 2010 and 2015 respectively.

The past decade has witnessed a significant change in the food safety and environmental sustainability landscape, calling for greater focus from policy makers on protecting people and the environment. This and other considerations prompted the publication of the fourth edition of the manual to meet the challenges of the times.

We are happy to inform the public, and particularly our stakeholders, of the release of the fourth edition of the manual. This edition is packed with more information on the science and application of pesticides. In addition, there are new sections on policy changes in traceability schemes, EU Green Deal on sustainable use of pesticides, bio-alternatives to chemical control and an analysis of emerging pest threats.

The manual is intuitively designed to be user-friendly, particularly for cocoa farmers and cocoa traders. The manual is also a training guide for agricultural extension agents, agricultural students and staff of cocoa institutions and bodies. The manual will be very useful for cocoa warehouse managers, pesticide manufacturers, pesticide sellers and any other party that desires to know more about the safety of cocoa for consumption.

We encourage wide distribution of this free downloadable manual among stakeholders in cocoa production and trade.  The manual is available for download in digital format from the ICCO website: https://www.icco.org/icco-documentation/pesticide-use-in-cocoa-practial-manual-fourth-edition/

Let us all collaborate to ensure safe cocoa production for consumption and for the pleasure of consumers of chocolate and other cocoa products.