Abidjan, 24 March 2023 – The International Cocoa Organization releases the Cocoa Market Report for February 2023. The current report highlights the following insights:
- Notwithstanding that crop output of Côte d’Ivoire is forecast to be higher year-on-year during 2022/23, the latest available data indicated that cumulative arrivals of cocoa beans at Ivorian ports are lower year-on-year, while on the contrary in Ghana, volumes of purchases of graded and sealed cocoa beans are on the increase.
- The global volume of sales of chocolate confectionery products is projected to grow by 1% from 7.544 million tonnes in 2022 to 7.610 million tonnes in 2023 with North America and Pacific Asia being the regions contributing the most to the increase in demand for chocolate confectionery products over the period.
- In February 2023, prices of the first position of cocoa futures contract ranged between US$2,406 and US$2,556 per tonne in London and averaged US$2,484 per tonne. In New York, the average price of the MAR-23 contract settled at US$2,656 per tonne and oscillated between US$2,571 and US$2,778 per tonne.
You can download the complete report by clicking here.