Abidjan, 16 October 2023 – The International Cocoa Organization releases the Cocoa Market Report for September 2023. The current report highlights the following insights:

  • A deficit of around 100,000 tonnes is currently estimated for the 2022/23 season which just ended.
  • Supply shortfall supported cocoa prices which in real terms surpassed the levels recorded during the 2021/22 season.
  • Cross-border flows of cocoa beans have been reported.  At present, however, it is not possible to assess the extent of this geographical arbitrage as the 2023.Q3 official trade statistics will become available in 2024.Q1.
  • The incidence of bean hoarding was reported due to expectations of a higher farm gate price for the 2023/24 season.
  • If farmers hoarded cocoa, does this really reflect that the volume of production for the just ended 2022/23 may be higher than actual arrivals and purchases for the season? As part of the 2022/23 crop will be tallied as inclusive of the 2023/24 harvest, the estimated deficit of 100,000 tonnes could be overestimated.

You can download the complete report by clicking here.


Abidjan, Côte d’Ivoire, 6 October 2023. The International Cocoa Organization (ICCO) held the 108th session of its Council from October 2 to 6 in Abidjan, Côte d’Ivoire, under the chairmanship of Mr. Abel Fernandez of the Dominican Republic, during the same week as the Organization’s 50th anniversary celebration.

Throughout this meeting, held at the Palm Club Hotel in Abidjan in a 100% face-to-face meeting format for the first time after 3 years of remote participation, the Members of ICCO engaged in a productive exchange of views and made important contributions to analyze the latest developments in the global cocoa economy. Some of the key topics discussed during the week included:

  • Election of a new Chairman of the International Cocoa Council, Mr. Rafael Soriano, Ambassador of Spain to Côte d’Ivoire
  • Update on the next World Cocoa Conference to be held at The Square, Brussels, 21-24 April 2024.
  • Update on the latest developments of the world cocoa market.
  • Update of the Annex C (Fine Flavour Cocoa) of the International Cocoa Agreement, 2010

The next 109th International Cocoa Council will be held in April 2024 in Brussels, Belgium, following the celebration of the 5th edition of the World Cocoa Conference to be held from 21 to 24 April 2024.

For more info, please contact info@icco.org

On 3 October 2023, the International Cocoa Organization (ICCO) celebrated its 50th anniversary at a ceremony held in Abidjan, Côte d’Ivoire, to mark half a century of commitment to sustainable growth in the cocoa sector and a living income for cocoa farmers worldwide.

The event, attended by over 1,000 guests, was graced by the presence of the President of the Republic of Côte d’Ivoire, His Excellency M. Alassane OUATTARA, and His Excellency M. Nana AKUFFO-ADDO, President of the Republic of Ghana.

Patrick ACHI, Prime Minister, Head of Government of Côte d’Ivoire, the Presidents of Institutions, Dr. Souleymane DIARRASSOUBA, Minister of Trade, Industry and SME Promotion, other Members of the Ivorian Government and the Director General of the Côte d’Ivoire Coffee-Cocoa Council also played an active part in this event.

Representatives of the ICCO’s 52 Member countries, the Diplomatic Corps, international organisations, civil society and the local and international private sector came together to voice their support for the Organization’s work.

Professor Chalmin of Paris Dauphine University gave a lecture entitled “The ICCO, the sustainability of the world cocoa economy and a living income for producers”.

This 50th anniversary celebration provided a chance not only to look back on the Organization’s achievements but also to reflect on the future challenges facing the cocoa sector.

Established in 1973 under the auspices of the United Nations Conference on Trade and Development, and operating through successive International Cocoa Agreements, the ICCO has played a major role in advocating the sustainability of the cocoa sector and a living income for producers.

Over the years, the Organization has become a reference centre and source of statistical information on the world cocoa economy, facilitating policy dialogue and international cooperation between its exporting and importing Members, as well as with private sector players.

Initially based in London, the International Cocoa Council – the Organization’s supreme decision-making body – voted in favour of relocating to Abidjan in 2017, at the invitation of the government of Côte d’Ivoire.

For further information, please contact:   info@icco.org

Abidjan, 28 September 2023The International Cocoa Council and subsidiary bodies, including the Consultative Board on the World Cocoa Economy and the Economics and Administration and Finance Committees, will meet from 02 to 06 October, 2023.

This information is restricted to ICCO Members. Please go to Member area for more information.

Timetable of Meetings, 02-06 October 2023, Abidjan, Côte d’Ivoire


46th Consultative Board  (Monday, 02 October)

09:00 – 17:00 GMT

Official celebration of the 50th anniversary (Tuesday, 03 October)

09:00 – 13:30 GMT / Gala Dinner 19:00 – 22:30

Opening of the 108th International Cocoa Council and 21st Economics Committe (Wednesday, 04 October)

09:00 – 17:00 GMT

21st Economics Committe, 24th Administration and Finance Committee* and 108th International Cocoa Council (Thursday, 05 October)

09:00 – 17:00 GMT

 108th International Cocoa Council (Friday, 06 October)

09:00 – 17:00 GMT


Abidjan, 19 September 2023 – The International Cocoa Organization releases the Cocoa Market Report for August 2023. The current report highlights the following insights:

  • Price rallies in August were influenced by the decline in supplies for the current season as well as concerns for the upcoming 2023/24 season.
  • The front month futures prices averaged US$3,453 per tonne and ranged between US$3,323 and US$3,730 per tonne in London. In New York, the average price was US$3,416 per tonne and ranged between US$3,269 per tonne and US$3,633 per tonne.
  • A year ago, the front-month prices were at an average of US$2,041 per tonne London and settled at an average of US$2,369 per tonne in New York.
  • Month of August witnessed high premiums.
  • Should we expect a repeat of chocolate shrinkflation as manufacturers grapple with high prices of cocoa beans?
  • Or will the soaring cost of cocoa be passed on to consumers and will we see more pushbacks from retailers if manufacturers increase their prices?

You can download the complete report by clicking here.


Abidjan, 31 August 2023 – The International Cocoa Organization today releases its revised forecasts for the 2022/23 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for the 2021/22 cocoa year. The data published in Issue No. 3 – Volume XLIX – cocoa year 2022/23 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of August 2023.

The commentary of the Bulletin highlights that the 2022/23 season is contending with faltering production, growth in demand and relatively high prices.

The turnaround in grinding activities in origin countries has supported the growth in global grindings. Nevertheless, this is not enough to offset the negative grindings in the traditional consuming regions. An observation pointed out in the Bulletin is that there are more exports of semi-finished products from top producing countries to Europe, Southeast Asia and North American Free Trade Agreement (NAFTA) countries.

Cocoa prices, in turn, have garnered more support from the combination of the current cocoa supply and demand situation and are hovering at high levels. A review of price developments on international markets for cocoa beans during the April-June quarter of 2023 is also presented.

Summary of forecasts and revised estimates


Cocoa year
2020/2021 2022/2023 Year-on-year change
forecasts a/
(thousand tonnes) (Per cent)
World gross production 4 826 4 980 4 938 + 112 + 2.3%
World grindings 4 994 5 072 5 005 + 11 + 0.2%
Surplus/deficit b/ – 216 – 142 – 116
End-of-season stocks 1 843 1 632 1 727 – 116 – 6.3%
Stocks/Grindings ratio 36.9% 32.2% 34.5%

a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIX – No. 2 – Cocoa year 2022/23
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 crop year data from 2019/20 to 2021/22 and quarterly statistics for the period July-September 2021 to January-March 2023. Details of origin of imports and destination of exports for leading cocoa importing countries are also provided.

Caution should be exercised in the interpretation of the data in this issue of the Bulletin as they may be subject to revisions in subsequent Bulletins and reports from the Secretariat.

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

Abidjan, 18 August 2023 – The International Cocoa Organization releases the Cocoa Market Report for July 2023. The current report highlights the following insights:

  • Grindings published by the main regional cocoa associations for the second quarter of 2023 indicated an overall plunge in cocoa processing activities in the traditional consuming regions, namely, Europe, North America, and Southeast Asia.
  • The increase in cocoa processing in Côte d’Ivoire absorbed a large part of the reduction (59,794 tonnes) in grindings of the three main regional cocoa associations.
  • Despite the currently low level of arrivals in Côte d’Ivoire, historical information outlined that the weekly arrivals in the country are regularly subject to revisions, and should this occur for the 2022/23 arrivals figures, production in Côte d’Ivoire for 2022/23 might end up being higher year-on-year.
  • In July, prices of the front-month contract averaged US$3,425 per tonne and ranged between US$3,221 and US$3,628 per tonne in London while in New York, they averaged US$3,391 per tonne and oscillated between US$3,230 and US$3,559 per tonne.
  • Compared to the average prices recorded a year ago (US$2,061 per tonne in London and US$2,315 per tonne in New York), the average prices seen in July 2023 represented significant increases of 66% and 46% respectively.

You can download the complete report by clicking here.


Abidjan, Côte d’Ivoire, 31 July 2023. The Executive Director of the International Cocoa Organization (ICCO) is pleased  to announce that the ICCO Members will select the country hosting the 3rd edition of the International Symposium on Cocoa Research (ISCR), scheduled for the second semester of 2025, during the 108th regular session of the International Cocoa Council in Abidjan, Côte d’Ivoire, in October 2023.

The International Symposium on Cocoa Research (ISCR), organised by the ICCO, is a 4-day event during which cocoa scientists from different academic disciplines exchange their latest findings and agree on priorities for collective actions. A Scientific Committee, to be established by the ICCO, will be in charge of the programme and the selection of abstracts to be presented at the Symposium under the guidance of the ICCO Secretariat. The 1st edition of the ISCR was held in Lima, Peru in November 2017; and the 2nd edition was held in Montpellier, France in December 2022.

To ensure equal representation as ISCR hosts between exporting and importing ICCO Members and within each group of Members, the Secretariat is inviting exporting ICCO Members from Africa or Asia to send to the Secretariat their official bids to host this event by 01 September 2023, close of business.

For further information or enquiries about bidding for the 3rd International Symposium on Cocoa Research, please contact Mr José Jiménez Puerta, Economist, International Cocoa Organization; tel: +225 27 22 51 49 60; email: jose.jimenez-puerta@icco.org

Abidjan, 17 July 2023 – The International Cocoa Organization releases the Cocoa Market Report for June 2023. The current report highlights the following insights:

  • In Europe, cocoa beans originating from Ghana and Côte d’Ivoire traded with the highest premium followed by Ecuadorian and Nigerian cocoa beans; while in the United States African origins received a higher premium compared to Ecuador.
  • In the course of June 2023, the global cocoa market was bullish and prices of the front-month contract were substantially higher year-on-year, generally above the symbolic threshold of US$3,000 per tonne, on both the London and New York markets.
  • The market was mostly constrained by the uncertainties surrounding the supply side due in part to the adverse meteorological conditions that prevailed in Côte d’Ivoire.

You can download the complete report by clicking here.


Abidjan, 20 June 2023 – The International Cocoa Organization releases the Cocoa Market Report for May 2023. The current report highlights the following insights:

  • Cocoa futures prices are currently hovering above US$3,000 and £2,300 per tonne in New York and London respectively.
  • Recent heavy downpours have been reported in major producing countries and have led to heightened fears of disease outbreaks as well as over the quality of the mid-crop cocoa beans.
  • The growing concern over an El Niño climatic phenomenon developing later in the year has been making the headlines.
  • though fertilizer prices are progressively declining, historically they are still significantly high and this could deter farmers from its usage, which could in turn affect cocoa production.

You can download the complete report by clicking here.