30 May 2012--The International Cocoa Organization today released its revised forecasts for the 2011/2012 cocoa year and revised estimates for 2010/2011 of world production, grindings and stocks of cocoa beans, summarized below.  The data published in Issue No. 2 - Volume XXXVIII - Cocoa year 2011/2012 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of May 2012.

Summary of revised forecasts and estimates

Cocoa year
(Oct-Sep)
2010/2011 2011/2012 Year-on-year change
   Revised
estimates
Previous
forecasts a/
Revised
forecasts
 
  (thousand tonnes)   (Per cent)
World production 4 309 3 961 3 990 - 319 - 7.4%
World grindings 3 923 3 992 3 993 + 70 + 1.8%
Surplus/deficit b/ + 343 - 71 - 43    
           
End-of-season stocks 1 775 1 706 1 732 - 43 - 2.4%
Stocks/Grindings ratio 45.2% 42.7% 43.4%    


Notes:
a/   Forecasts published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXVIII - No. 1 - Cocoa year 2011/2012
b/   Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings
Totals and differences may differ due to rounding.

This issue of the Bulletin contains the Secretariat’s revised forecasts for the 2011/2012 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 2012. 

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2008/2009 to 2010/2011 and quarterly statistics for the period January-March 2010 to July-September 2011.  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 2002/2003 to 2010/2011 are presented for reference. 

Copies of the Quarterly Bulletin of Cocoa Statistics, including in Microsoft Excel files and in Adobe PDF format, can be ordered from the website or from the ICCO Secretariat at the address below:

International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU, UK

Tel:              +44 (0)20 7400 5050
Fax:             +44 (0)20 7421 5500
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ICCO Secretariat

International Cocoa Organization
Westgate House
Ealing
London W5 1YY
United Kingdom

Tel:  +44 (0)20 8991 6000
Fax: +44 (0)20 8997 4372
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