Abidjan, 24 April 2023 – The International Cocoa Organization releases the Cocoa Market Report for March 2023. The current report highlights the following insights:

• Halfway through the 2022/23 cocoa year, prices of the first position of cocoa futures were broadly higher year-on-year on both the London and New York markets.
• Despite their declining trend compared to the levels seen at the start of the 2022/23 cocoa year, stocks of cocoa beans held in ICE Futures licensed warehouses in Europe and the United States are high compared to the previous season.

You can download the complete report by clicking here.

 

Abidjan, 24 March 2023 – The International Cocoa Organization releases the Cocoa Market Report for February 2023. The current report highlights the following insights:

• Notwithstanding that crop output of Côte d’Ivoire is forecast to be higher year-on-year during 2022/23, the latest available data indicated that cumulative arrivals of cocoa beans at Ivorian ports are lower year-on-year, while on the contrary in Ghana, volumes of purchases of graded and sealed cocoa beans are on the increase.
• The global volume of sales of chocolate confectionery products is projected to grow by 1% from 7.544 million tonnes in 2022 to 7.610 million tonnes in 2023 with North America and Pacific Asia being the regions contributing the most to the increase in demand for chocolate confectionery products over the period.
• In February 2023, prices of the first position of cocoa futures contract ranged between US$2,406 and US$2,556 per tonne in London and averaged US$2,484 per tonne. In New York, the average price of the MAR-23 contract settled at US$2,656 per tonne and oscillated between US$2,571 and US$2,778 per tonne.

You can download the complete report by clicking here.

 

Abidjan, 28 February 2023 – The International Cocoa Organization today releases its first 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. 1 – 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 February 2023.

A growing number of uncertainties including the current global macroeconomic outlook, the effect of climate change and diseases are likely to have an impact on cocoa supply and demand. As such, the 2022/23 season is anticipated to result in a limited supply deficit while demand is envisaged to be subdued. The expectation of a supply deficit has also been compounded with weather variations, especially in West Africa.

Compared to the 2021/22 season, global cocoa supply is anticipated to rise by 4% to 5.017 million tonnes. Global cocoa demand is projected to decrease by less than 1% to 5.027 million tonnes.

 

Summary of forecasts and revised estimates

 

Cocoa year  (Oct-Sept)	2021/22		2022/23	Year-on-year change
	Previous estimates a/	Revised estimates	Forecasts
	(thousand tonnes)				(Per cent)
World gross production	4 823	4 818	5 017	+ 199	+ 4.1%
World grindings	5 081	5 057	5 027	– 30	– 0.6%
Surplus/deficit   b/	– 306	– 287	– 60
End-of-season stocks	1 622	1 712	1 652	– 60	– 3.5%
Stocks/Grindings ratio	31.9%	33.9%	32.9%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLVIII – No. 4 – Cocoa year 2021/22
b/ Surplus/deficit: net world crop (gross crop adjusted for 1% 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 January-March 2021 to July-September 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