Abidjan, 13 December 2022 – The International Cocoa Organization releases the Cocoa Market Report for November 2022. The current report highlights the following insights:

  • The 2021/22 cocoa season ended with a supply deficit of 306,000 tonnes.
  • Growing conditions for the ongoing main crop of the 2022/23 season are generally good in
    West Africa, hence boding well for the region’s cocoa production.
  • However, the demand side of the market seems uncertain given that the slowdown in the global economy and inflationary impact on raw materials, combined with exorbitant energy prices in Europe, which is the leading region for cocoa processing, are likely to take a toll on the operations of cocoa processors.
  • Total stocks of cocoa beans in the Exchange-licensed warehouses are higher year-over-year on both sides of the Atlantic.
  • The nearby cocoa futures contract traded on a positive note during November in both London and New York. In London, cocoa futures prices increased substantially by 16% from US$2,211 to US$2,559 per tonne whereas in New York they moved up by 3% from US$2,352 to US$2,433 per tonne.

You can download the complete report by clicking here.

 

Abidjan, 30 November 2022 – The International Cocoa Organization today releases its revised estimates for the 2020/21 and 2021/22 cocoa years of world production, grindings, and stocks of cocoa beans, summarized below. The data published in Issue No. 4 – Volume XLVIII – Cocoa Year 2021/22 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of November 2022.

For this issue, several revisions have been made to the 2021/22 cocoa balance sheet. On the supply side, the production estimate has been adjusted downwards by 67,000 tonnes to 4.823 million tonnes, almost 1% lower than the estimate of 4.890 million tonnes presented in the previous Bulletin. A lower yield resulting from less conducive weather conditions and diseases in most of the major producing countries underlined the downward revisions.

On the demand side, compared to 5.071 million tonnes in the previous Bulletin, grindings have been adjusted higher by almost 10,000 tonnes to 5.081 million tonnes based on an increased use of beans as reflected in the trade of cocoa products. Notwithstanding the challenges of the global macroeconomy, global cocoa demand held up in 2021/22– from an estimate of 4.981 million tonnes in 2020/21 to 5.081 million tonnes in 2021/22, which reflects a 2% year-on-year increase.

Summary of forecasts and revised estimates

 

Cocoa year
(Oct-Sep)
2020/2021 2021/2022 Year-on-year change
Revised
estimates
Previous
estimates a/
Revised
estimates
(thousand tonnes) (Per cent)
World gross production 5 242 4 890 4 823 – 419 – 8.0%
World grindings 4 981 5 071 5 081 + 100 + 2.0%
Surplus/deficit b/ + 209 – 230 – 306
 
End-of-season stocks 1 928 1 683 1 622 – 306 – 15.9%
Stocks/Grindings ratio 38.7% 33.2% 31.9%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLVIII – No. 3 – Cocoa year 2021/2022
b/  Surplus/deficit: net world crop (gross crop adjusted for 1% 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 2018/19 to 2020/21 and quarterly statistics for the period October-December 2020 to April-June 2022. 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 ICCO e-Shop: https://www.icco.org/categorie-produit/qbcs/ or by email: statistics.section@icco.org

 

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Abidjan, 15 November 2022 – The International Cocoa Organization releases the Cocoa Market Report for October 2022. The current report highlights the following insights:

  • In Côte d’Ivoire, the floods are reported to have restricted the transportation of cocoa beans from the farms to the ports and could be the reason for the year-on-year cocoa arrivals seen during the first few weeks of the 2022/23 season at the country’s ports of exports.
  • In neighbouring Ghana, while no fresh data were available on the level of volumes of graded and sealed cocoa beans for the 2022/23 season, the situation is being closely monitored as the country recorded a drastic cut in production compared to last season.
  • For the 2021/22 cocoa season, cocoa processing activities increased year-on-year in Europe and Southeast Asia, whereas they dropped in North America.
  • During October 2022, cocoa futures prices were lower year-on-year on both sides of the Atlantic.

You can download the complete report by clicking here.

 

 

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Abidjan, 04 November 2022. Vacancy notice – Economist

Title: Economist

Category/ Grade: Internationally recruited staff, P1 on the UN salary scale

Duty station: Abidjan

Type of contract: Fixed Term (5 years with 6-month probationary period)

Deadline for application: 05/12/2022 (Midnight Abidjan Time)

Indicative starting date: 01/04/2023 (date when the selected candidate is expected to be available to take up her/his position in Abidjan)

Recruitment open to: nationals of ICCO Member countries (please see full list on https://www.icco.org/who-we-are/membership/)

Applications (only CV & Covering letter) to be sent to: recruitment@icco.org copy to ExecDir.Office@icco.org

 

VACANCY NOTICE FULL DESCRIPTION – ENGLISH

VACANCY NOTICE FULL DESCRIPTION – SPANISH

 

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Abidjan, 21 October 2022 – The International Cocoa Organization releases the Cocoa Market Report for September 2022. The current report highlights the following insights:

  • Down the road from the previous months of the 2021/22 season, cocoa prices further continued their decline in September 2022.
  • The producer price of cocoa beans for the main crop of the 2022/23 season in Côte d’Ivoire was announced at 900 XOF/kg, which is equivalent to US$1,364 per tonne while in Ghana, cocoa farmers are expected to receive 12,800 Ghana cedis per tonne or US$1,251 per tonne for their cocoa beans.
  • The rising costs of production factors having a higher impact on the cocoa processing and chocolate manufacturing process have by far outweighed the reduction in cocoa prices.

You can download the complete report by clicking here.

 

 

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