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.