London, 20 January 2014–A direct dialogue follow-up to last year’s International Workshop on Cocoa Certification is planned to be held in Zurich, Switzerland, 6-7 March 2014.

The meeting, aimed at the cocoa and chocolate industry on the one hand and the cocoa producing countries on the other, is being organized and facilitated by the ICCO and the United Nations Forum of Sustainability Standards (UFSS). It will take place at the Radisson Blu Hotel at Zurich Airport.

While registration is free of charge, the direct dialogue workshop is open to ICCO member delegates, and others by invitiation only, with the travel and hotel costs of participants to be fully sponsored by their countries.

Full details of the direct dialogue, including the official announcement, hotel details and a registration form are available here.

The draft programme of the workshop can be downloaded by clicking here. Click here to download the full working discussion document, 'Sustainable Cocoa and Certification' which has been prepared for the direct dialogue workshop.

Details of the International Workshop on Cocoa Certification held in June 2013 in Douala, Cameroon–including the final report and a full list of downloadable presentations–can be accessed here.

LONDON, 7 January 2014–The International Cocoa Organization is to run another International Seminar on Futures Markets and Econometric Modelling of the Cocoa Market, this time at the Ivotel, Abidjan, Côte d’Ivoire,  24 – 28 February 2014, the ICCO announced today.

Organized in conjunction with the Ministry of Agriculture of Côte d’Ivoire and the Conseil du Café-Cacao, the week-long Seminar once again aims to give policy makers and other stakeholders in the cocoa sector, particularly from the African region, an improved understanding of the functioning of cocoa futures markets and the enhanced ability to use econometric models to forecast market developments.

Futures markets, also called terminal markets, play a vital role in the world cocoa economy. They allow those in the trade and industry to manage their price risk, provide valuable information on storage decisions, and collect and disseminate information on world prices.  In addition to examining in detail the functioning of these markets and recent regulatory changes, the participants will review, among other subjects, the impact of speculative trading on cocoa futures prices and volatility, and price transmission between the futures markets and the physical markets at origin.

Because of the specific nature of cocoa growing, investment / disinvestment decisions in cocoa production capacity takes several years to show their full impact. The lack of adequate forecasting and / or the capacity to conduct it has been a major factor leading the cocoa sector to experience periods of boom and bust, with cocoa prices swinging between less than US$1,000 per tonne in the year 2000 to over US$18,000 in the year 1977 (in 2012 price terms). The techniques involved ineconometric modelling can be used to forecast market development and to help stakeholders, from cocoa and chocolate companies’ market analysts to policy makers, to take informed decisions regarding investment in the cocoa business and thereby, optimize their rate of returns.

The two modules of the Seminar are scheduled to run back-to-back throughout the five days. The module on terminal markets is appropriate for those with an economic or financial background. Meanwhile, quantitative economists, econometricians and statisticians make up the target group for the module on econometric modelling. However, parties with the relevant background or knowledge can participate in either or both modules.

ICCO staff and international experts with an in-depth knowledge of the subjects will deliver the Seminar training. The Seminar follows up on a number of studies on cocoa price determination and the functioning of the cocoa markets published by the Organization’s staff in recent years, and the ICCO also has built a sophisticated econometric model on the world cocoa economy and publishes regular forecasts on cocoa supply and demand based on it. Both module topics already have been the subject of well received seminars held at the ICCO headquarters in London, and, in 2013, in Guayaquil, Ecuador.

The Seminar will be held in Côte d’Ivoire’s commercial capital and cocoa port of Abidjan, at the kind invitation of the Ivorian Government.

More details, including a full programme and a description of the subjects to be covered at the Seminar, are available by downloading the official announcement of the event here. Also included are a registration form for the Seminar, as well as booking details for the discounted accommodation rate available to attendees at the venue, the Ivotel in Abidjan. Plus amples informations, y compris le programme et la description des sujets abordés au séminaire sont disponibles en téléchargeant l’annonce officielle de l’événement. Sont également inclus le formulaire d’inscription ainsi que tous les renseignements concernant les taux préférentiels accordés aux participants pour leur séjour à Ivotel, Abidjan, l’endroit ou se déroule le séminaire.

The International Cocoa Council and subsidiary bodies, including the expanded Consultative Board on the World Cocoa Economy, as well as the Economics and Administration and Finance Committees, will meet in Zurich, Switzerland, 10 – 14 March 2014.

Provisional Timetable of Meetings, 10-14 March 2014, Zurich, Switzerland

ED(MEM) 962-Rev.2
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Arrangements for the March 2014 Meetings

ED(MEM) 965
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International Cocoa Council: Draft Agenda

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Administration and Finance Committee: Draft Agenda

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Economics Committee: Draft Agenda

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Consultative Board on the World Cocoa Economy: Draft Agenda

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