Daily Prices at time of London Close

Previous Prices 20 Nov 2014 19 Nov 2014
ICCO daily price (SDRs/tonne) 1959.78 1961.19
ICCO daily price (US$/tonne) 2874.64 2877.51
London futures (£ sterling/tonne) 1868.33 1871.33
New York futures (US$/tonne) 2823.67 2826.67

The International Cocoa Organization (ICCO) | Cocoa Producing and Cocoa Consuming Countries

International Cocoa Council

The International Cocoa Council is the highest decision-making body of the ICCO and is composed of all the contracting parties to the International Cocoa Agreement, 2010. It holds two regular sessions per year, and special sessions as required. Council sessions are attended by delegations of all cocoa producing and cocoa consuming Member countries. Members of the Consultative Board on the World Cocoa Economy (see below) participate as observers, as do delegations from non-Member countries, cocoa sector associations and international organizations.

The main function of the Council is to determine the strategy of the Organization in addition to supervising its financial policies and reviewing and approving its proposed work programme and budget for each cocoa year.  It is the body to which the different committees and working groups report.

Officers of the International Cocoa Council 2014/2015 cocoa year:

  • Chairman: Mr. Enselme Gouthon (Secretary General, Coordination Comittee for the Coffee - Cocoa Sectors, Togo)
  • Vice-Chairman: H. E. Mr. Luis Valverde (Vice Minister of Agriculture, Livestock, Aquaculture and Fisheries, Ecuador)

Mr. Aly Toure (Côte d'Ivoire) is the spokesman for producing countries, while Mr. Conradin Rasi (Switzerland) is the spokesman for consuming countries.

Economics Committee

The Economics Committee was established to review cocoa statistics and statistical analyses of cocoa production; examine analyses of market trends and other factors, with particular regard to cocoa supply and demand; analyse information on market access for cocoa and cocoa products in producing and consuming countries; examine and recommend to the Council projects for funding by the Common Fund for Commodities and other donor agencies; address issues regarding the economic dimension of sustainable development in the cocoa economy; review the draft annual work programme of the Organization in cooperation with the Administration and Finance Committee as appropriate; prepare international cocoa conferences and seminars at the request of the Council; and deal with any other matters as approved by the Council.

Open to all Members of the Organization, the Chairman and Vice-Chairman of the Economics Committee are elected from among Members for a period of two years. The posts of Chairman and Vice-Chairman alternate between exporting and importing Members.

Officers of the Economics Committee 2014/2015 and 2015/2016 cocoa years:

  • Chairman: Mr. Henk de Jong (Agricultural Counsellor, Royal Netherlands Embassy, London)
  • Vice-Chairman: Mr. Corneille Tabalo (Representative of the Embassy of the Democratic Republic of Congo to ICO and ICCO, London)

Administration and Finance Committee

The Administration and Finance Committee supervises, on the basis of the budget presented by the Executive Director, the preparation of the draft administrative budget to be submitted to Council; and carries out any other administrative and financial tasks which the Council assigns to it, including the monitoring of income and expenditure and matters related to the administration of the Organization.

The Administration and Finance Committee consists of six exporting Members on a rotational basis, and six importing Members.

  • Chairman: Mrs Miriam Okwabi (Deputy Chief Executive, Finance and Administration, Ghana Cocoa Board)
  • Vice-Chairman: Mr. Odon Palla (Commercial Counsellor, Embassy of Spain, London)
  • Exporting Members: Côte d'Ivoire, the Democatic Republic of Congo, the Dominican Republic, Ghana, Indonesia and the Spokesman for the Exporting Member Countries
  • Importing Members: the European Union, Germany, the Russian Federation, Spain, Sweden and the Spokesman for Importing Member Countries

Consultative Board on the World Cocoa Economy

The Consultative Board on the World Cocoa Economy was inaugurated in December 2003 in order to encourage the active participation of experts from the private sector in the work of the Organization and to promote a continuous dialogue among experts from the public and private sectors.

Since its first meeting in March 2004, the Board has implemented an ambitious work programme covering cocoa consumption, cocoa bean processing into intermediate cocoa products, cocoa bean marketing, post-harvest treatment of cocoa beans and training, and cocoa farm establishment and cultivation.

Its role is that of an advisory body which advises the Council on issues of general and strategic interest to the cocoa sector, including long term structural developments in supply and demand; the ways and means of strengthening the position of cocoa farmers, with a view to improving their livelihoods; proposals to encourage the sustainable production, trade and use of cocoa; the development of a sustainable cocoa economy; the elaboration of modalities and frameworks for promotion and consumption; and any other cocoa-related matters within the scope of the Agreement.

The Council, at its meeting in March 2013, decided to greatly expand the Board from its previous 16 members, although the Board still includes experts from both exporting and importing countries, appointed by the Council every two years. The Board may designate one or more alternates and advisers to be approved by the Council.

The Board met for the first time in its expanded form on 23 September 2013.

Officers of the Consultative Board for the 2014/2015 and 2015/16 cocoa years:

  • Chairman: TBC
  • Vice-Chairman: TBC

icon List of Members and Alternates nominated to serve on the Consultative Board on the World Cocoa Economy for the 2014/2015 and 2015/2016 cocoa years

Expert Working Group on Stocks

The Expert Working Group on Stocks was created in 1989 to support the ICCO Secretariat in considering the problems associated with assessing the level of world cocoa bean stocks.  It is composed of representatives and analysts from cocoa producing countries, industry and trade associations, cocoa processors and chocolate manufacturers.  The Group conducts an annual survey on warehouse stocks of cocoa beans and establishes an assessment of the level of world cocoa bean stocks.  It also considers various other issues to improve the reliability of the assessment of the world level of cocoa stocks, such as the harmonization of statistics on production, grindings and stocks.

The Chairman of the Expert Working Group on Stocks is Mr. Stephen Wateridge (Tropical Research Services).

ICCO Secretariat

ICCO Secretariat Management:

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
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

ICCO Membership Procedure

The procedures for becoming a member of the International Cocoa Organization are provided in Articles 52 to 57 of the International Cocoa Agreement, 2010.

How to Become an ICCO Member - International Cocoa Agreement 2010

Quarterly Bulletin of Cocoa Statistics and The World Cocoa Directory

The Quarterly Bulletin of Cocoa Statistics provides reliable data and up-to-date analysis from 1960 onwards, covering most cocoa producing and importing countries.

It is published in February, May, August and November

The World Cocoa Directory 2013/14 includes the contact details of over 3,000 companies and organizations within the global cocoa and chocolate sector, completely updated and indexed by region and by activity, and incorporating many websites and email addresses that are available for the first time.