Abidjan, 14 September 2021 – The International Cocoa Organization today releases the Cocoa Market Report for July 2021. The current report highlights the following insights:

  • Compared to their settlement values recorded on the first trading day of August, prices of the front-month futures contract increased by 5% from US$2,245 to US$2,363 per tonne and by 9% from US$2,355 to US$2,574 per tonne in London and New York respectively.
  • Commercial traders increased their net short futures positions from -12,770 contracts to 14,934 contracts in Europe and from 9,653 contracts to 25,627 contracts in the United States.
  • Certified stocks in exchange licensed warehouses continued to remain at high levels.
  • Cocoa graded on the exchange increased year-on-year by 22,210 tonnes to 149,270 tonnes in Europe and by 80,245 tonnes to 105,043 tonnes in the United States.
  • Compared to July 2021, the plunge in origin differentials was mostly halted during August 2021 in Europe and the United States.
  • Record global production resulting in a supply excess of 230,000 tonnes anticipated for the 2020/21 cocoa year.

You can download the complete report from our Statistics section

 

Abidjan, 31 August 2021 – The International Cocoa Organization today releases its revised forecasts for the 2020/21 cocoa year and revised estimates of world production, grindings, and stocks of cocoa beans for the 2019/20 cocoa year. The data published in Issue No. 3 – 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 August 2021.

Though the pandemic triggered a shutdown of activities resulting in depressed commodity demand and supply disruptions, vaccination exercises have led countries to open and this is prompting a better outlook for commodities. Cocoa demand is seen to be recovering from the decline caused by the COVID-19 pandemic as the reopening of economies (retail facilities among others) has contributed to an improved utilization growth of cocoa. As far as cocoa supply is concerned, a record production is expected and a supply surplus is anticipated for the ongoing season.

For the current 2020/21 season, world production and grindings are projected to be higher than previously forecast. Compared to the figure published in the previous issue of the Bulletin, world production is forecast to attain a record level at 5.141 million tonnes (up by 117,000 tonnes).

The global production surplus is now forecast at 230,000 tonnes, compared with the Secretariat’s earlier projection of a surplus of 165,000 tonnes. Total statistical stocks of cocoa beans at the end of the 2020/21 season should therefore increase to 1.963 million tonnes, which is equivalent to 40.4% of the projected grindings for 2020/21.

Summary of forecasts and revised estimates

 

Cocoa year
(Oct-Sep)
2019/2020 2020/2021 Year-on-year change
Revised
estimates
Previous
forecasts a/
Revised
forecasts
(thousand tonnes) (Per cent)
World gross production 4 760 5 024 5 141 + 381 + 8.0%
World grindings 4 703 4 809 4 860 + 157 + 3.3%
Surplus/deficit b/ +9 + 165 + 230
 
End-of-season stocks 1 733 1 893 1 963 + 230 + 13.3%
Stocks/Grindings ratio 36.8% 39.4% 40.4%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLVII – No. 2 – Cocoa year 2020/21
b/  Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings
Totals may differ due to rounding.

This issue of the Bulletin contains the Secretariat’s revised forecasts for the 2020/21 cocoa year as well as data for the past four years of production and grindings of cocoa beans, detailed by country. The main features of the global market are illustrated in colour charts. In addition, the Bulletin includes comments on the crop and demand prospects in the leading countries for the current season, a review of price developments on international markets for cocoa beans during the April-June quarter of 2021 and the evolution of trade flow data estimated for major cocoa exporting and importing countries during the January – March 2021 quarter of the 2020/21 season.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers crop year data from 2017/18 to 2019/20 and quarterly statistics for the period July-September 2019 to January-March 2021. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided. Historical statistics on cocoa trade by country and by region, for the period 2011/12 to 2019/20 are presented for reference.

Copies of the May 2021 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

Abidjan, 13 August 2021 – The International Cocoa Organization today releases the Cocoa Market Report for July 2021. The current report highlights the following insights:

  • Prices of the nearby cocoa futures contract averaged US$2,195 per tonne and ranged between US$2,122 and US$2,295 per tonne in London whereas in New York, average price of the first position contract stood at US$2,332 per tonne, seesawing between US$2,242 and US$2,425 per tonne.
  • In Europe, 7,960 tonnes of cocoa beans were exchanged against the JUL-21 contract, down from the 9,280 tonnes tendered against the JUL-20 one.
  • Certified stocks in exchange licensed warehouses kept on climbing on either side of the Atlantic.
  • Cocoa graded on the exchange increased year-on-year by 17,100 tonnes to 136,800 tonnes in Europe and by 79,133 tonnes to 95,487 tonnes in the United States.
  • Origin differentials continued to weaken year-over-year in July in both Europe and the United States.
  • Declining cocoa beans prices on futures markets upheld the bolstering effect on cocoa powder prices and exerted downward pressure on prices of cocoa butter.
  • Grindings data posted by main regional cocoa associations for the second quarter of 2021 indicated resumption in cocoa processing activities in Europe, Asia, and North America.

You can download the complete report from our Statistics section

 

Abidjan, 17 July 2021 – The International Cocoa Organization today releases the Cocoa Market Report for June 2021. The current report highlights the following insights:

  • Prices of the front-month cocoa futures contract declined by 4% in London whilst in New York, a 3% plunge was
    recorded.
  • Certified stocks in exchange licensed warehouses continued to increase in Europe and the United States.
  • Compared to 2019/20, cocoa graded on the exchange since the start of 2020/21 went up by 15,110 tonnes from
    104,270 tonnes in Europe and by 74,838 tonnes from 16,354 tonnes in the United States.
  • Origin differentials further waned year-over-year in June on both sides of the Atlantic.
  • Cocoa production in Côte d’Ivoire and Ghana is envisaged to reach unprecedent volumes.

You can download the complete report from our Statistics section

 

Abidjan, 9 de julio de 2021. El Consejo Internacional del Cacao, en su reunión extraordinaria celebrada del 6 al 8 de julio de 2021, prorrogó la duración del séptimo Convenio Internacional del Cacao, 2010, por dos años, hasta el 30 de septiembre de 2024. El Convenio, que entró en vigor el 1 de octubre de 2012, tenía una duración inicial de diez años cacaoteros completos y habría llegado a su fin el 30 de septiembre de 2022, a menos que el Consejo lo prorrogara.

El Convenio Internacional del Cacao de 2010, que cumple ahora nueve años, ha sido la base de la cooperación internacional entre los países exportadores de cacao, los países importadores de cacao y muchas otras partes interesadas que trabajan juntas para lograr una economía mundial del cacao sostenible. La decisión de prorrogar el Convenio demuestra el compromiso inquebrantable de los 51 Miembros de la Organización Internacional del Cacao en seguir trabajando para fortalecer la economía cacaotera mundial y apoyar su desarrollo sostenible.
El Consejo Internacional del Cacao ha solicitado a su presidente, el Embajador Aly Toure de Côte d’Ivoire, que transmita la decisión de prorrogar la duración del Convenio Internacional 2010 al Secretario General de las Naciones Unidas, que actúa como depositario del Convenio.
El Consejo Internacional del Cacao también ha logrado avances significativos en la consecución de un consenso sobre las recomendaciones para enmendar el Convenio Internacional del Cacao, 2010. El Consejo ha llegado a un acuerdo sobre aproximadamente el 95% de las enmiendas recomendadas al Convenio. El Consejo finalizará la revisión de las recomendaciones de enmienda restantes en su próxima reunión de septiembre de 2021.
Las enmiendas propuestas aportarán más claridad y simplificación a una serie de artículos del Acuerdo y harán que su aplicación y puesta en práctica sean más significativas. Y lo que es más importante, las enmiendas propuestas lo harán más relevante para la evolución actual de la economía mundial del cacao, en particular al centrar las acciones en la consecución de unos mejores ingresos para los cacaocultores.

Abidjan, le 9 juillet 2021Le Conseil International du Cacao, lors de sa session spéciale tenue du 6 au 8 juillet 2021, a prorogé la durée du 7ème Accord International sur le Cacao de 2 années, jusqu’au 30 septembre 2024. Cet Accord, entré en vigueur en 2012, avait une durée initiale de 10 ans, et aurait expiré le 30 septembre 2022, sans cette prorogation du Conseil.

Le 7ème Accord International sur le Cacao, maintenant dans sa neuvième année, a permis aux pays exportateurs et importateurs de cacao, ainsi qu’à de nombreuses autres parties prenantes, de coopérer au niveau international, dans le but d’atteindre une économie mondiale durable du cacao. Cette décision de proroger l’Accord démontre l’engagement résolu des 51 membres de l’Organisation Internationale du Cacao de continuer à travailler au renforcement de l’économie cacaoyère mondiale et à soutenir son développement durable.

Le Conseil International du Cacao a chargé son Président, l’Ambassadeur Aly Touré de Côte d’Ivoire, de transmettre la décision de prorogation du 7ème Accord International sur le Cacao au Secrétaire général des Nations Unies qui fait office de dépositaire de l’Accord.

Cette session du Conseil International du Cacao a également permis des progrès significatifs en vue d’atteindre un consensus sur les recommandations relatives à la révision de l’Accord International sur le Cacao. Le Conseil s’est mis d’accord sur environ 95% des amendementsrecommandés de l’Accord. Le Conseil procédera à la révision des derniers amendements lors de sa prochaine session de septembre 2021.

Les amendements proposés apporteront plus de clarté et de simplification à de nombreux articles de l’Accord afin de renforcer l’impact de leur application et de leur mise en œuvre. En outre, les amendements proposés rendront l’Accord plus pertinent par rapport aux développements actuels dans l’économie cacaoyère mondiale, en concentrant ses objectifs et ses actions en vue de l’obtention de meilleurs revenus pour les cacaoculteurs.

Abidjan, 9 June 2021The International Cocoa Council, at its special session held from 6 – 8 July 2021, extended the duration of the seventh International Cocoa Agreement by two years to 30 September 2024. The Agreement, which became operational from 1 October 2012, had an initial duration of ten full cocoa years and would have come to an end by 30 September 2022 unless extended by the Council.

The 7th International Cocoa Agreement, now in its nineth year, has been the basis of international cooperation among cocoa exporting countries, cocoa importing countries, and many other stakeholders working together toward achieving a sustainable world cocoa economy. The decision to extend the Agreement demonstrates the unwavering commitment of the 51 Members of the International Cocoa Organization to continue to work to strengthen the world cocoa economy and to support its sustainable development.

The International Cocoa Council has requested its chairman, Ambassador Aly Toure of Côte d’Ivoire to convey the decision to extend the duration of the 7th International Agreement to the Secretary General of the United Nations who acts as the depository of the Agreement.

The International Cocoa Council has also made significant progress in reaching consensus on the recommendations to amend the International Cocoa Agreement. The Council, agreed on about 95% of the recommended amendments to the Agreement. The Council will now finalize the review of the remaining recommendations for amendment at its next meeting in September 2021.

The proposed amendments will bring more clarity and simplification to a number of articles of the Agreement and to make their application and implementation more meaningful. More importantly, the proposed amendments will make it more relevant to the current developments in the world cocoa economy particularly by focusing objectives and actions towards achieving a better living income for cocoa farmers.

Abidjan, 23 June 2021 – The International Cocoa Organization today releases the Cocoa Market Report for June 2021. The current report highlights the following insights:

  • Prices of the nearby cocoa futures contract on the London and New York markets went up by 6% and almost 4%
    respectively over May 2021.
  • 72,230 tonnes of cocoa beans were exchanged against the MAY-21 contract, up from 20,330 tonnes tendered against
    the MAY-20 contract.
  • Hedgers increased their net short positions from 8,494 contracts to 11,294 contracts in Europe while in the United
    States, they decreased their net short positions from 35,752 contracts to 31,866 contracts.
  • Certified stocks in exchange licensed warehouses continued to climb in May on both sides of the Atlantic.
  • Global forecast of cocoa supplies excess for 2020/21 perked at 165,000 tonnes at the end of May.

You can download the complete report from our Statistics section

 

Abidjan, Côte d’Ivoire, 19 June 2021. The International Cocoa Organization (ICCO) in partnership with the French institution Agricultural Research Centre for International Development (CIRAD) announce that, considering the evolution of the global health situation following the coronavirus outbreak (COVID-19), the International Symposium on Cocoa Research (ISCR 2021) that was scheduled for September 27-29, 2021, has been rescheduled for December 5-7, 2022, in Montpellier, France,

The International Cocoa Research Symposium is becoming a well-established event in the sector, having previously attracted over 500 participants, not only from the scientific community, but also from the entire cocoa value chain, making it a must-attend event for anyone concerned about the future of cocoa.

The Symposium represents a unique opportunity for participants to interact with cocoa industry leaders and high-level speakers, who will present their latest studies and point the way forward for the cocoa sector. The main theme of this edition of the symposium is “Innovations to Support Market Development and Promote Sustainability in Cocoa Farming to Improve Farmers’ Incomes“.

In order to facilitate the reception of papers and presentations, as well as the registration of participants , the organization has published a website www.iscrsymposium.org from which all the information related to the event, the different thematic areas, as well as the conditions and requirements to send the papers can be consulted. The deadline for submissions has been extended to March 15, 2022.

The event will comply with the strictest measures in terms of prevention of COVID. For those who wish to attend the event you are invited to consult the website for more information, including discounts applicable to students and organizations from ICCO Member and non ICCO Member countries.

Press accreditations to attend the event can be requested by emailing events@icco.org or congrescacao2021@cirad.fr

Abidjan, 3 June 2021. The International Cocoa Organization (ICCO) is calling for bids to host the 6th edition of the World Cocoa Conference (WCC) during the first semester of 2024, (tentatively in April 2024, the exact dates will be communicated later).

The WCC is the world’s premier cocoa gathering, bringing together government officials, the trade and industry, as well as civil society, to discuss and deal with the current issues involved in producing, trading, processing and marketing cocoa and its products, including chocolate. It is held on a biennial basis, having been launched in Abidjan, Côte d’Ivoire in November 2012, before moving to Amsterdam, the Netherlands in June 2014, then to Bávaro, the Dominican Republic in May 2016, and to Berlin, Germany in April 2018. The 5th edition is due to take place in Bali, Indonesia during the second quarter of 2022.

All applicants should draft a submission containing extensive information on the following points. Preference will be given to formal bids from ICCO importing Member countries.

  1. THE CONFERENCE VENUE:

The World Cocoa Conference attracts a high number of participants, representing the whole spectrum of stakeholders in the cocoa value chain: the public sector, the private sector and the civil society.

The four-day Conference in 2024 is expected to attract about 1,300 delegates and will include both plenary and simultaneous multitrack breakout sessions. Thus, the conference venue would have to include at least one auditorium to seat an audience of 1,300 participants and a minimum of three (3) nearby breakout rooms, each having a seating capacity of around 400 participants. Because of the international nature of the Conference, all the meeting rooms should either have to incorporate four (4) soundproofed interpretation booths, or have sufficient space to build these booths within the rooms without affecting seating capacity.

Other additional nearby rooms would also be required, to serve as Organizer/Secretariat office, Executive Director’s office, VIP speaker room, Speaker ready room, Press room, etc. At least six (6) rooms of various sizes would be required for this purpose.

  1. THE EXHIBITION:

An exhibition will be held during the Conference. From past experiences, we expect up to 100 stands of 3 meters × 3 meters (9 square meters). This would require another large room or rooms, close to the main auditorium and breakout rooms but separated from it by at least one soundproofed wall.

  1. CATERING:

Buffet style lunch will be served for all Conference delegates, in a nearby room or rooms with an expandable number of seating places. The same or alternative spaces could be used for Cocoa Breaks, when cocoa, coffee and tea would be offered to delegates mid-morning and mid-afternoon.

  1. GALA DINNER:

A formal Conference Dinner should be held, at an appropriate offsite venue (with transportation provided). We expect an attendance of approximately 600 delegates.

  1. ACCOMMODATION:

A list of potential accommodation should be included in the bid with hotels ranging from three- to five-stars, near the Conference venue. These rooms would be made available to registered participants at discounted rates.

  1. ACCESSIBILITY BY AIR:

As the Conference attracts delegates from many countries, the venue should be located within proximity of an international airport, or at the very least an airport with good connections and accessibility for international flights, especially from Africa, Asia and Latin America.

  1. LOCAL, REGIONAL AND NATIONAL ASSISTANCE:

It is crucial to have strong evidence of support from government (local, regional or national) and the cocoa sector (trade associations or individual companies). This support could be demonstrated either by a significant financial contribution to the overall Conference budget, a major contribution in kind or by taking responsibility for some of the costs to run the Conference (e.g., rental of the venue, subsidising delegates unable to afford the costs of attending, the Gala Dinner, catering or other major budgeted costs).

  1. BUDGET & COST SHARING

The applicant should commit to contributing 50% of the total budget of the conference (in kind or in cash) and should include a written confirmation of this commitment in the bid. The other half of the budget will be covered by the ICCO. The estimated total cost for the organization of a World Cocoa Conference is about €1.3 million.

  1. PROFESSIONAL CONFERENCE ORGANIZER (PCO)

A Professional Conference Organizer (PCO) should be hired to promote, market, sell, administer and manage the Exhibition, the Conference and the Gala Dinner. The costs associated with hiring the PCO are covered by a commission deducted from the sales revenues made by the PCO (from conference registration, sponsorship and exhibition, meeting rooms, sale of the Gala Dinner tickets, etc…).

Applicants have the choice to either select and hire a PCO that must contractually fully collaborate with the ICCO, or recommend a PCO that will have a direct contract with the ICCO. In both cases, the details of the contract will be subject to negotiation.

The ICCO would respectfully ask that applicants address each point 1-9 in their formal presentations. Any other supporting information would be welcome. The deadline for the submission of formal bids to host the World Cocoa Conference is Friday 15 October 2021, 11:59 pm GMT.

Bids should be sent in digital format to Mrs Laetitia ANEY, Sustainable Development Officer, International Cocoa Organization, Laetitia.Aney@icco.org

The International Cocoa Council will consider all formal bids at its 105th regular session and a final decision is expected by June 2022 at the latest.

For further information or enquiries about bidding for the World Cocoa Conference 2024, please contact Mrs Laetitia ANEY, Sustainable Development Officer, International Cocoa Organization; e-mail: Laetitia.Aney@icco.org