London, 24 January 2019 – The ICCO Expert Working Group on Stocks (EWGS) met today, Thursday 24 January 2019 to review the level of world cocoa bean stocks. The EWGS is composed of experts in the cocoa field who meet once a year, at the invitation of the ICCO, to review and analyse the results of the ICCO’s annual survey of worldwide cocoa stocks. The survey has been conducted every year since 2000 and aims to improve transparency in the cocoa market.
Location of cocoa bean stocks |
30 September 2017 |
30 September 2018 |
Difference
year-on-year |
|
|
|
|
STOCKS IN COCOA IMPORTING COUNTRIES |
1,241 |
1,125 |
-117 |
Of which: |
|
|
|
Europe |
744 |
664 |
-80 |
Licensed US warehouse stocks |
291 |
263 |
-28 |
|
|
|
|
STOCKS IN COCOA PRODUCING COUNTRIES |
243 |
277 |
34 |
|
|
|
|
COCOA BEANS IN TRANSIT |
87 |
79 |
-9 |
|
|
|
|
TOTAL ESTIMATED
WORLD COCOA BEAN STOCKS (ICCO Survey) |
1,572 |
1,480 |
-91 |
|
|
|
|
Total world stocks (statiscally-derived) QBCS |
1,726 |
1,748 |
22 |
Totals and differences may differ due to rounding.
The result of the latest survey showed identifiable world cocoa bean stocks declined to 1.480 million tonnes as at the end of the 2017/18 cocoa year (30 September 2018). 76% of the stocks were located in cocoa importing countries, while 19% were held in cocoa producing countries and 5% were afloat as at 30 September 2018.
The level of world cocoa bean stocks identified by the ICCO survey was down by 91,000 tonnes compared to the previous year. This result differs from the statistically-derived estimate published by the ICCO in November 2018 in its latest Quarterly Bulletin of Cocoa Statistics (QBCS), which showed a small supply surplus of 22,000 tonnes for the 2017/18 cocoa season.
The EWGS now notes that a gap of 268,000 tonnes has developed between the annual survey of cocoa stocks held in warehouses worldwide and the ICCO’s statistically-derived stocks figure.
The review conducted by the EWGS during its meeting led to the conclusion that the survey results underestimate existing world stocks due to the expansion of stocks held in locations not reporting to the ICCO survey. The most significant area of unreported stock was identified as Asia. The ICCO Secretariat agreed to continue its efforts to increase transparency of stock levels in the region.
While the ICCO Secretariat maintains, so far, its supply surplus estimate of 22,000 tonnes for 2017/18 as published in its latest QBCS, it may revise that figure in its next Bulletin due at the end of February 2019, taking into account the outcome of this survey.
For more information, please contact Bérénice Bah, Editorial and Conference Officer, International Cocoa Organization, ICCO Building, II Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire; Tel: +225 22 51 49 50/51 | Fax: +225 22 51 49 79 | E-mail: berenicegrace.bah@icco.org
International Cocoa Council and subsidiary bodies, 9 – 12 September 2019, Abidjan
The International Cocoa Council and subsidiary bodies, including the Consultative Board on the World Cocoa Economy and the Working Group on the review of the International Cocoa Agreement, 2010, as well as the Economics and Administration and Finance Committees, will meet at the Heden Golf Hotel, Abidjan, Côte d’Ivoire, 9 – 12 September 2019.
Provisional Timetable of Meetings, 9 – 12 September 2019, Abidjan, Côte d’Ivoire
Arrangements for the September 2019 meetings
International Cocoa Council: Draft Agenda
Administration and Finance Committee: Draft Agenda
Economics Committee: Draft Agenda
Consultative Board on the World Cocoa Economy: Draft Agenda
Working Group on the review of the International Cocoa Agreement, 2010: Draft Agenda
ICE Futures Europe offers Certified Grader Course in London
The Intercontinental Exchange (ICE) soft commodities team is organising a three-day certified cocoa grader course.
This specialised training, which begins on 4 November, is aimed at teaching the technical skills required to grade cocoa according to the ICE London Cocoa Contract requirements.
The course will take place at the ICE Grading Room facility in Basildon, London.
Please note that space on the course is limited to only eight places.
For more information, please click here or contact tel: +44 (0) 20 7065 7706; email: education@theice.com.
May 2019 Quarterly Bulletin of Cocoa Statistics
Abidjan, 31 May 2019–The International Cocoa Organization today releases its revised forecasts for the current 2018/19 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for 2017/18, as summarized below. The data published in Issue No. 2 – Volume XLV – Cocoa year 2018/19 of the Quarterly Bulletin of Cocoa Statistics reflect the most recent information available to the Secretariat as at the beginning of May 2019.
Summary of revised forecasts and estimates
(Oct-Sep)
estimates
Forecasts a/
Forecasts
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLV – No. 1 – Cocoa year 2018/19
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 2018/19 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 cocoa market are illustrated in colour charts. In addition, the Bulletin includes comments on crop and demand prospects in the leading countries for the current season, and a review of price developments on international markets for cocoa beans during the January-March quarter of 2019.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2015/16 to 2017/2018 and quarterly statistics for the period January-March 2017 to July-September 2018. Details of destination of exports and origin of imports for leading cocoa exporting countries are also provided. Historical statistics on cocoa trade and consumption, by country and by region, for the period 2009/10 to 2017/2018 are presented for reference.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format, can be ordered by completing and returning this form , or from the ICCO Secretariat at the address below:
International Cocoa Organization , ICCO Building, II-Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire . Tel: +225 22 51 49 50/51 ; Fax: +225 22 51 49 79; E-mail: info@icco.org.
ICCO response to the EU initiative on stepping up action against deforestation and forest degradation
The International Cocoa Council, meeting in Abidjan, Côte d’Ivoire, on 12 April 2019 released the following communiqué:
THE INTERNATIONAL COCOA COUNCIL,
1. Acknowledging the contribution of the cocoa sector towards the achievement of the Sustainable Development Goals (SDGs); and taking into account the need to equally balance the economic, environmental and social pillars of the SDGs;
2. Considering that forests are indispensable for addressing the issue of climate change;
3. Considering that many ICCO exporting Members have in place national programs and policies aiming at fighting deforestation and favouring reforestation;
4. Noting that the agricultural sector is a major driver of deforestation and that the impact of cocoa is significant in certain deforestation hotspots;
5. Acknowledging that deforestation is a global issue that needs a global solution;
6. Taking note of the EU initiative on stepping up action against deforestation and forest degradation;
7. Considering that improvement in the revenues and the living conditions of cocoa farmers must be integrated in the policies aiming at fighting deforestation;
8. Recognising the importance of maintaining market access for cocoa exports to the European Union and sustainable consumption, and such initiatives shall not constitute a disguised restriction to international trade;
9. Considering that cocoa can actually play a key role in the process of forest restoration, given that cocoa’s growth environment favours agroforestry systems and the presence of shade trees;
10. Recalling that one recommendation of the Berlin Declaration is to end deforestation and promote forest protection and restoration;
11. Considering that one of the objectives of the International Cocoa Agreement (ICA), 2010 is to provide an appropriate framework for discussion on all cocoa matters among governments, and with the private sector as well as the civil society;
12. Further noting as per the terms of Article 43 of the International Cocoa Agreement (ICA), 2010, that Members shall make all necessary efforts to accomplish a sustainable cocoa economy;
13. After due consideration of the opinion of the Consultative Board on the World Cocoa Economy.
RESOLVES:
14. To task the ICCO Secretariat with taking all appropriate measures to establish a dialogue with the European Union and other ICCO importing Member countries, with the aim of setting up a platform enabling all relevant stakeholders within the world cocoa economy to join forces and scale up their common actions on the issue of deforestation;
15. To encourage ICCO Member countries to implement and contribute to enforce policies and practices that ensure environmental protection, including anti- deforestation and reforestation measures, soil protection, and agroforestry systems;
16. To encourage the European Union to strengthen its policy dialogue and cooperation with commodity-exporting countries by developing tailored approaches taking into consideration country-specific rural development challenges, such as forestry and rural land tenure legislations;
17. To remind the European Union that the cocoa ecosystem plays an important role in the reforestation of affected areas and to improve the natural equilibrium of its social and economic surroundings;
18. To strengthen the partnership with producing countries in order to support financially and technically the national policies and programs aiming at fighting deforestation;
19. To work towards the improvement of farmers’ living conditions and productivity, as an avenue to reducing poverty in rural communities in the medium term, which will contribute to the efforts to tackle deforestation;
20. To encourage payments to producers for environmental services provided, within the framework of the fight against deforestation and actions towards reforestation;
21. To work with bilateral and multilateral partners as well as with its Members in order to mobilise financing for the implementation of policies and actions to protect forests and their rehabilitation.
International Cocoa Council and subsidiary bodies, 8 – 11 April 2019, Abidjan
The International Cocoa Council and subsidiary bodies, including the Consultative Board on the World Cocoa Economy, as well as the Economics and Administration and Finance Committees, will meet at the Heden Golf Hotel, Abidjan, Côte d’Ivoire, 8 – 11 April 2019.
Provisional Timetable of Meetings, 8 – 11 April 2019, Abidjan, Côte d’Ivoire
Arrangements for the April 2019 meetings
International Cocoa Council: Draft Agenda
Administration and Finance Committee: Draft Agenda
Economics Committee: Draft Agenda
Consultative Board on the World Cocoa Economy: Draft Agenda
February 2019 Quarterly Bulletin of Cocoa Statistics
Abidjan, 28 February 2019–The International Cocoa Organization today released its first forecasts for the 2018/2019 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for 2017/2018, as summarized below. The data published in Issue No. 1 – Volume XLV – Cocoa year 2018/2019 of the Quarterly Bulletin of Cocoa Statistics reflect the most recent information available to the Secretariat as at the beginning of February 2019.
Summary of forecasts and revised estimates
(Oct-Sep)
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIII – No. 4 – Cocoa year 2017/2018
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 first forecasts for the 2018/2019 cocoa year, as well as data for the past four years of production and grindings of cocoa beans, detailed by country. In addition, the Bulletin includes comments on crop and demand prospects in the leading countries for the current season, the evolution of trade flow data estimated for major cocoa importing countries in Europe during the 2017/18 season and a review of price developments on international markets for cocoa beans during the October-December quarter of 2018.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2014/2015 to 2016/2017 and quarterly statistics for the period October-December 2016 to April-June 2018. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided. Historical statistics on cocoa trade and consumption, by country and by region, for the period 2008/2009 to 2016/2017 are presented for reference.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format, can be ordered by completing and returning this form, or from the ICCO Secretariat at the address below:
International Cocoa Organization
06 P.O. Box 6891
Abidjan 06
Côte d’Ivoire
Tel: +225 22 51 49 50/51
Fax: +225 22 51 49 79
E-mail: info@icco.org
Assessment of World Cocoa Bean Stocks for the 2017/18 season
London, 24 January 2019 – The ICCO Expert Working Group on Stocks (EWGS) met today, Thursday 24 January 2019 to review the level of world cocoa bean stocks. The EWGS is composed of experts in the cocoa field who meet once a year, at the invitation of the ICCO, to review and analyse the results of the ICCO’s annual survey of worldwide cocoa stocks. The survey has been conducted every year since 2000 and aims to improve transparency in the cocoa market.
year-on-year
WORLD COCOA BEAN STOCKS (ICCO Survey)
Totals and differences may differ due to rounding.
The result of the latest survey showed identifiable world cocoa bean stocks declined to 1.480 million tonnes as at the end of the 2017/18 cocoa year (30 September 2018). 76% of the stocks were located in cocoa importing countries, while 19% were held in cocoa producing countries and 5% were afloat as at 30 September 2018.
The level of world cocoa bean stocks identified by the ICCO survey was down by 91,000 tonnes compared to the previous year. This result differs from the statistically-derived estimate published by the ICCO in November 2018 in its latest Quarterly Bulletin of Cocoa Statistics (QBCS), which showed a small supply surplus of 22,000 tonnes for the 2017/18 cocoa season.
The EWGS now notes that a gap of 268,000 tonnes has developed between the annual survey of cocoa stocks held in warehouses worldwide and the ICCO’s statistically-derived stocks figure.
The review conducted by the EWGS during its meeting led to the conclusion that the survey results underestimate existing world stocks due to the expansion of stocks held in locations not reporting to the ICCO survey. The most significant area of unreported stock was identified as Asia. The ICCO Secretariat agreed to continue its efforts to increase transparency of stock levels in the region.
While the ICCO Secretariat maintains, so far, its supply surplus estimate of 22,000 tonnes for 2017/18 as published in its latest QBCS, it may revise that figure in its next Bulletin due at the end of February 2019, taking into account the outcome of this survey.
For more information, please contact Bérénice Bah, Editorial and Conference Officer, International Cocoa Organization, ICCO Building, II Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire; Tel: +225 22 51 49 50/51 | Fax: +225 22 51 49 79 | E-mail: berenicegrace.bah@icco.org
Quarterly Bulletin of Cocoa Statistics – November 2018
Abidjan, 30 November 2018–The International Cocoa Organization today releases its revised estimates, summarized below, of world production, grindings and stocks of cocoa beans for the 2017/2018 cocoa year. The data published in Issue No. 4 – Volume XLIV – Cocoa year 2017/2018 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of November 2018.
Summary of revised estimates
(Oct-Sep)
estimates
estimates a/
estimates
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIV – No. 3 – Cocoa year 2017/2018
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 estimates for the 2017/2018 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 cocoa market are illustrated in colour charts. In addition, the Bulletin includes comments on the crop and demand situation in the leading countries, and a review of price developments on international markets for cocoa beans during the 2017/2018 cocoa year.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2014/2015 to 2016/2017 and quarterly statistics for the period July-September 2016 to January-March 2018. Details of destination of exports and origin of imports for leading cocoa exporting countries are also provided. Historical statistics on cocoa trade and consumption, by country and by region, for the period 2008/2009 to 2016/2017 are presented for reference.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format, can be ordered by completing and returning this form, or from the ICCO Secretariat at the address below:
International Cocoa Organization , ICCO Building, II-Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire . Tel: +225 22 51 49 50/51 ; Fax: +225 22 51 49 79; E-mail: registry@icco.org or info@icco.org.
Nigeria joins the International Cocoa Agreement 2010
Nigeria on 10 October 2018 acceded to the International Cocoa Agreement 2010, the United Nations Treaty Section has confirmed.
Click here to see the official notification of accession to the Agreement from the United Nations.
ICCO expresses support for Indonesia following earthquake and tsunami
Abidjan, 4 October 2018 — The Executive Director, Mr. Michel Arrion, on behalf of the International Cocoa Organization, has expressed sincere condolences to the Government and people of Indonesia, following the earthquake and tsunami that devastated parts of the island of Sulawesi in late September.
It appears as of this date that well over 1,500 people have been killed and many more injured, displaced or made homeless by the disaster. Besides the destruction and loss of life, it appears that infrastructure has been severely affected as well, where aid is most desperately needed.
The island of Sulawesi is the most important cocoa producing area in the country and many farmers could well be affected by the effects of the earthquake and tsunami.
The Organization would like to show its firm support to Indonesia, as an important Member country. The ICCO would also encourage all Member and Observer countries, as well as its partners in the cocoa and chocolate industry, to liaise with the Indonesian government in order to assist in any way possible.