Archive for category: Latest News

Abidjan, 11 May 2020 – The World Cocoa Conference (WCC) is a ground-breaking networking event created by the International Cocoa Organization (ICCO) and launched in 2012 in Abidjan, Côte d’Ivoire. Organized every two years to assess the status of the world cocoa economy, review current challenges and agree on measures to address these issues, it has now been established as the leading forum for the global cocoa sector, with over 1,500 delegates attending the last edition in Berlin, Germany in 2018.

It is the only event in the cocoa sector to bring together a diverse range of decision-makers and other stakeholders in the cocoa and chocolate value chain, from all over the world in one place, representing a unique opportunity to encourage discussion of challenges and opportunities, to gather intelligence, to make new contacts and to do business.

After four successful editions held in Africa, then Europe and Latin America, the Conference is moving to Asia and Oceania for the first time, providing a great opportunity for the global cocoa community to focus on the third largest cocoa producing region of the world.

The fifth edition of the World Cocoa Conference (WCC5) will be hosted by the Government of Indonesia in partnership with the ICCO at the Bali Nusa Dua Convention Center (BNDCC), a state-of-the-art business facility within a truly stunning location.

Due to the COVID-19 pandemic, the 5th edition of the World Cocoa Conference has been postponed to 2021. For further updates, please visit the Conference website by clicking here or contact +44 (0) 20 7780 4340, email: info@worldcocoaconference.org

London, 23 January 2020 – The ICCO Expert Working Group on Stocks (EWGS) met today, Thursday 23 January 2020 to review the level of world cocoa bean stocks. The EWGS is composed of experts in the cocoa field who meet once a year, at the invitation of the ICCO, to review and analyse the results of the ICCO’s annual survey of cocoa bean stocks held in warehouses worldwide. The survey has been conducted every year since 2000 and aims to improve transparency in the cocoa market.

The results of the latest survey showed that world cocoa bean stocks are estimated to have increased to 1.538 million tonnes as at the end of the 2018/19 cocoa year (30 September 2019). Unfortunately, this year there was a significant reduction in responses to the survey. Therefore, a larger proportion of the stock had to be estimated.

 

Location of cocoa bean stocks	30 September 2018	30 September 2019
STOCKS IN COCOA IMPORTING COUNTRIES	1,121	1,151
STOCKS IN COCOA EXPORTING COUNTRIES	318	313
COCOA BEANS IN TRANSIT	78	73
TOTAL STOCKS	1,517	1,538
of which identified
Volume	1,306	1,057
Percent	86%	69%
ICCO statistically-derived stocks	1,722	1,701

Totals and differences may differ due to rounding.

 

The EWGS now notes that a gap of 163,000 tonnes exists between the annual survey of cocoa stocks held in warehouses worldwide and the ICCO’s statistically-derived stocks figure.

The review conducted by the EWGS during its meeting led to the conclusion that the survey results underestimate existing world stocks due to the expansion of stocks held in locations not reporting to the ICCO survey. The most significant area of unreported stocks was identified as Asia.

While the ICCO Secretariat maintains, so far, its supply deficit estimate of 21,000 tonnes for 2018/19 as published in its latest QBCS, it may revise that figure in its next Bulletin due at the end of February 2020, taking into account the outcome of this survey.

 

For more information, please contact Bérénice Grace Bah, Editorial and Conference Officer, International Cocoa Organization, ICCO Building, II Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire; Tel: +225 22 51 49 50/51 | Fax: +225 22 51 49 79 | Email: berenicegrace.bah@icco.org 

 

Abidjan, 30 August 2019–The International Cocoa Organization today released its revised forecasts for the current 2018/2019 cocoa year and revised estimates for 2017/2018 of world production, grindings and stocks of cocoa beans, summarized below. The data published in Issue No. 3 – Volume XLV – Cocoa year 2018/2019 of the Quarterly Bulletin of Cocoa Statistics reflect the most recent information available to the Secretariat as at the beginning of August 2019.

Summary of revised forecasts and estimates

Cocoa year (Oct-Sep)	2017/2018	2018/2019		Year-on-year change
	Revised estimates	Previous forecasts a/	Revised forecasts
	(thousand tonnes)				(Per cent)
World production	4 651	4 834	4 849	+ 198	+ 4.3%
World grindings	4 596	4 750	4 783	+ 187	+ 4.1%
Surplus/deficit b/	+ 8	+ 36	+ 18
End-of-season stocks	1 722	1 759	1 740	+ 18	+ 1.0%
Stocks/Grindings ratio	37.5%	37.0%	36.4%

Notes:
a/   Forecasts published in Quarterly Bulletin of Cocoa Statistics, Vol. XLV – No. 2 – Cocoa year 2018/2019
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 2018/2019 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 cocoa market are illustrated in colour charts. In addition, it includes comments on crop and demand prospects in the leading countries for the current season, and a review of price developments on international markets for cocoa beans during the April-June quarter of 2019.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2015/2016 to 2017/2018 and quarterly statistics for the period July-September 2017 to January-March 2019. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided. Historical statistics on cocoa trade and consumption, by country and by region, for the period 2009/2010 to 2017/2018 are presented for reference.

Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format can be ordered by completing and returning this form or from the ICCO Secretariat at the address below:

International Cocoa Organization
06 P.O. Box 6891
Abidjan 06
Côte d’Ivoire

Tel:              +225 22 51 49 50/51
Fax:             +225 22 51 49 79
E-mail:         info@icco.org

 

The Intercontinental Exchange (ICE) soft commodities team is organising a three-day certified cocoa grader course.

This specialised training, which begins on 4 November, is aimed at teaching the technical skills required to grade cocoa according to the ICE London Cocoa Contract requirements.

The course will take place at the ICE Grading Room facility in Basildon, London.

Please note that space on the course is limited to only eight places.

For more information, please click here or contact tel: +44 (0) 20 7065 7706; email: education@theice.com.

The International Cocoa Council, meeting in Abidjan, Côte d’Ivoire, on 12 April 2019 released the following communiqué:

THE INTERNATIONAL COCOA COUNCIL,
1. Acknowledging the contribution of the cocoa sector towards the achievement of the Sustainable Development Goals (SDGs); and taking into account the need to equally balance the economic, environmental and social pillars of the SDGs;

2. Considering that forests are indispensable for addressing the issue of climate change;

3. Considering that many ICCO exporting Members have in place national programs and policies aiming at fighting deforestation and favouring reforestation;

4. Noting that the agricultural sector is a major driver of deforestation and that the impact of cocoa is significant in certain deforestation hotspots;

5. Acknowledging that deforestation is a global issue that needs a global solution;

6. Taking note of the EU initiative on stepping up action against deforestation and forest degradation;

7. Considering that improvement in the revenues and the living conditions of cocoa farmers must be integrated in the policies aiming at fighting deforestation;

8. Recognising the importance of maintaining market access for cocoa exports to the European Union and sustainable consumption, and such initiatives shall not constitute a disguised restriction to international trade;

9. Considering that cocoa can actually play a key role in the process of forest restoration, given that cocoa’s growth environment favours agroforestry systems and the presence of shade trees;

10. Recalling that one recommendation of the Berlin Declaration is to end deforestation and promote forest protection and restoration;

11. Considering that one of the objectives of the International Cocoa Agreement (ICA), 2010 is to provide an appropriate framework for discussion on all cocoa matters among governments, and with the private sector as well as the civil society;

12. Further noting as per the terms of Article 43 of the International Cocoa Agreement (ICA), 2010, that Members shall make all necessary efforts to accomplish a sustainable cocoa economy;

13. After due consideration of the opinion of the Consultative Board on the World Cocoa Economy.

RESOLVES:
14. To task the ICCO Secretariat with taking all appropriate measures to establish a dialogue with the European Union and other ICCO importing Member countries, with the aim of setting up a platform enabling all relevant stakeholders within the world cocoa economy to join forces and scale up their common actions on the issue of deforestation;

15. To encourage ICCO Member countries to implement and contribute to enforce policies and practices that ensure environmental protection, including anti- deforestation and reforestation measures, soil protection, and agroforestry systems;

16. To encourage the European Union to strengthen its policy dialogue and cooperation with commodity-exporting countries by developing tailored approaches taking into consideration country-specific rural development challenges, such as forestry and rural land tenure legislations;

17. To remind the European Union that the cocoa ecosystem plays an important role in the reforestation of affected areas and to improve the natural equilibrium of its social and economic surroundings;

18. To strengthen the partnership with producing countries in order to support financially and technically the national policies and programs aiming at fighting deforestation;

 19. To work towards the improvement of farmers’ living conditions and productivity, as an avenue to reducing poverty in rural communities in the medium term, which will contribute to the efforts to tackle deforestation;

20. To encourage payments to producers for environmental services provided, within the framework of the fight against deforestation and actions towards reforestation;

21. To work with bilateral and multilateral partners as well as with its Members in order to mobilise financing for the implementation of policies and actions to protect forests and their rehabilitation.