Abidjan, 30 November 2021 – The International Cocoa Organization today releases its revised estimates for the 2019/20 and 2020/21 cocoa years of world production, grindings, and stocks of cocoa beans, summarized below. The data published in Issue No. 4 – Volume XLVII – Cocoa Year 2020/21 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of November 2021.

For this issue, several revisions have been made to the 2020/21 cocoa balance sheet. On the supply side, the production estimate has been adjusted up by 34,000 tonnes to 5.175 million tonnes, almost 1% above estimate provided in the previous Bulletin. A higher yield observed in most of the major producing countries underlined the upward revisions. Indeed, conducive weather conditions globally played a major role in setting a new production record.

On the demand side, grindings have been adjusted higher by almost 51,000 tonnes to 4.911 million tonnes based on increased use of beans as reflected in the trade of cocoa products. Notwithstanding the challenges of COVID-19, the opening of economies worldwide in 2021 has stimulated the overall recovery observed in the 2020/21 season’s grindings. Cocoa grindings in 2020/21 are heading towards pre-pandemic levels – from an estimate of 4.707 million tonnes in 2019/20 to 4.911 million tonnes in 2020/21, which reflects a 4% year-on-year increase.

Summary of revised estimates


Cocoa year
2019/2020 2020/2021 Year-on-year change
estimates a/
(thousand tonnes) (Per cent)
World production 4 735 5 141 5 175 + 440 + 9.3%
World grindings 4 707 4 860 4 911 + 204 + 4.3%
Surplus/deficit b/ -19 + 230 + 212
End-of-season stocks 1 712 1 963 1 924 + 212 + 12.4%
Stocks/Grindings ratio 36.4% 30.4% 39.2%

a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLVII – No. 3 – Cocoa year 2020/2021
b/  Surplus/deficit: net world crop (gross crop adjusted for 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 2017/18 to 2019/20 and quarterly statistics for the period October-December 2019 to April-June 2021. 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

ED(MEM) 1168 – 36th Special Session of ICCO Council – French

ED(MEM) 1168 – 36th Special Session of ICCO Council – Spanish

ED(MEM) 1168 – 36th Special Session of ICCO Council – English

ED(MEM) 1168 – 36th Special Session of ICCO Council – Russian



Abidjan, 19 November 2021 – The International Cocoa Organization today releases the Cocoa Market Report for October 2021. The current report highlights the following insights:

  • Prices of the nearby contract tumbled by 9% and 6% in London and New York respectively in October.
  • Compared to their levels seen a year ago, monitored stocks of cocoa beans in exchange licensed warehouses went up by 19% in Europe and by 51% in the United States.
  • Since the beginning of 2021, gradings of cocoa on the London exchange reached 150,430 tonnes against 108,590 tonnes during the corresponding period of the previous year, while in the United States they soared from 25,143 tonnes to 112,066 tonnes.
  • Origin differentials generally remained low year-on-year.
  • Even though grindings increased year-on-year in Europe, North America and Southeast Asia for the third quarter of 2021, this was not sufficient to absorb excess production.

You can download the complete report from our Statistics section


ED(MEM) 1167 – Cocoa sector Payment for Ecosystem Services report by South Pole – English