The current review of the cocoa market situation reports on price movements on the international markets during the month of June 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in June.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from April to June 2008.  Chart III depicts the link between the ICCO daily prices and the Dow Jones Commodity Index.  Table I presents some price record levels reached by cocoa beans and the extent of the recent increase.

The Roundtable for a Sustainable Cocoa Economy (RSCE) has launched a new website for intensive and interactive dialogue on the challenges of sustainability to the cocoa economy and in preparation for the 2nd Roundtable Meeting (RSCE2), to take place in Trinidad & Tobago in March 2009.

All stakeholders in the world cocoa economy are invited to share their knowledge and experience and to express their views and ideas to achieve economic, social and environmental sustainability throughout the cocoa chain.

For further information and news on the RSCE please visit www.roundtablecocoa.org or click under the RSCE logo on the ICCO homepage.

The current review of the cocoa market situation reports on price movements on the international markets during the month of May 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in May.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from March to May 2008.  Chart III depicts the link between the ICCO daily prices and the Dow Jones Commodity Index.

The International Cocoa Organization today releases its revised forecasts for the current 2007/08 cocoa year of world production, grindings and stocks of cocoa beans, summarized below. The data published in issue No. 2 – Volume XXXIV –  Cocoa year 2007/08 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of May 2008.

Summary of revised forecasts and estimates

Cocoa year (Oct-Sep) 2006/07 2007/2008 Year-on-year change
Revised estimates Previous forecasts a/ Revised Forecasts
(thousand tonnes) (Per cent)
World production 3 370 3 713 3 740 + 370 + 11.0%
World grindings 3 637 3 727 3 744 + 107 + 2.9%
Surplus/deficit b/ – 301 – 51 – 41
End-of-season stocks 1 574 1 536 1 533 -41 -2.6%
Stocks/Grindings ratio 43.3% 41.2% 40.9%

Notes:
a/ Forecasts published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXIV – No. 1 – Cocoa year 2007/08
b/ Surplus/deficit: net world crop (gross crop adjusted loss in weight) minus grindings
Totals and differences may differ due to rounding.

This issue of the Bulletin contains the Secretariat’s revised forecasts for the 2007/08 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 January-March quarter of 2008.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2004/05 to 2006/07 and quarterly statistics for the period January-March 2006 to July-September 2007.  Details of destination of exports and origin of imports for leading cocoa-exporting countries are also provided.  Historical statistics on cocoa trade and consumption, by country and region, for the period 1998/99 to 2006/07, are presented for reference.

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

International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU
Tel: +44 (0)20 7400 5050
Fax: +44 (0)20 7421 5500
E-mail: info@icco.org

The current review of the cocoa market situation reports on price movements on the international markets during the month of March 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in March.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from January to March 2008.  Chart III depicts the link between New York futures prices and the exchange rate of the U.S. dollar against the Pound Sterling in March.  Chart IV illustrates the arbitrage spread between the New York and London futures markets.  Finally, Chart V shows the recent development in the monthly average of the ICCO daily prices volatility.

The current review of the cocoa market situation reports on price movements on the international markets during the month of April 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in April.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from February to April 2008.  Chart III depicts the link between the ICCO daily prices and the Reuters-CRB Index.  Finally, Chart IV shows the recent development in the volatility of cocoa and coffee prices.

Mrs Assouan Acquah from Cote d’Ivoire has been confirmed as Co-Chair of the Working Group on the Roundtable for a Sustainable Cocoa Economy (RSCE).

Mr. Simon M. Schnetzer from Berlin, Germany, will start work on 20 May 2008 as Coordinator for the RSCE. His CV is as follows:

Academic Background

2005- Master of Science in Economics, University of Konstanz, Germany

Work Experience

2006- Capacity Building International (InWEnt), Germany – planning and managing capacity building projects on trade and fiscal politics in Latin America, East Africa and Middle East.

2005- Private Development Group, Tanzania – consultancy in waste management.

2005- International Centre for Insect Physiology and Ecology (ICIPE), Kenya – consultancy on trade and environment.

2005- German Technical Cooperation (GTZ), Tanzania and Kenya – consultancy for agricultural trade project.

Language and Computer Skills

English, Spanish, French

MS Office and Statistical software (Stata and Eviews)


The First meeting of the Working Group for the Roundtable on a Sustainable Cocoa Economy (RSCE) was held on 6 March 2008. At this meeting, Mr Tony Lass MBE was appointed as a Co-Chairman from the consuming countries. Representatives from producing countries will conduct further consultations before appointing their Co-Chairman and will inform the Secretariat as soon as possible.

Members of the Working Group agreed that the official title of the initiative would be Roundtable for a Sustainable Cocoa Economy (RSCE). The title could be translated in all languages. However, the acronym would remain “RSCE” in all languages. The suggested translations into French and Spanish are: “Table Ronde pour une Economie Cacaoyère Durable” (French) and “Mesa Redonda sobre una Economía Cacotera Sostenible” (Spanish).

Members further agreed on the objectives for the next RSCE meeting as follows:

Overarching Objective:

  • Continue the informed dialogue from the Accra meeting of October 2007 among stakeholders involved in the world cocoa economy: producer alliances, companies, NGOs, scientists, unions and governments etc. Consider the ways and means to enhance sustainability in the cocoa sector worldwide, building upon the Accra Agenda;

Specific Objectives for this RSCE meeting (RSCE2):

  • Identify the principles underlying the Accra Agenda, taking into account the three pillars of sustainable development (environmental, economic and social);
  • Encourage the (further) development of standards for sustainable cocoa, by starting a process of consultations and dialogue (in meetings and through the web) on the establishment of standards; prepare draft standards (in certain cases) if that is broadly supported;
  • Identify the ways and means of delivering traceability and monitoring of the cocoa chain, from production through trade/processing to consumption;
  • Develop standards for best supply chain practice and promote their implementation, taking account of the special needs of smallholders;
  • Consider the role of certification for cocoa and the similarities/differences of existing and newly developed mechanisms of certification, again taking into account the responsibilities of different stakeholders;
  • Exchange views on existing programmes towards the implementation of core labour standards; and
  • Be a platform for initiatives promoting sustainability in cocoa.

To find out more on the

  • background
  • way forward and
  • recent developments

The current review of the cocoa market situation reports on price movements on the international markets during  the month of February 2008.  Chart I illustrates price movements on the London (LIFFE) and New York (ICE Futures U.S.) markets in February.

Chart II shows the evolution of the ICCO daily prices denominated in U.S. dollars and SDRs for the period from December 2007 to February 2008.  Chart III illustrates the arbitrage spread between the New York and London futures markets.

The International Cocoa Organization today releases its first forecasts for 2007/08 and revised estimates for the 2006/2007 cocoa year of world production, grindings and stocks of cocoa beans, summarized below. The data published in issue No. 1 – Volume XXXIV –  Cocoa year 2007/08 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of February 2008.

Summary of forecasts and revised estimates:

Cocoa year (Oct-Sep) 2006/2007 2007/08 Year-on-year change
 Previous estimates a/  Revised estimates  Forecasts
(thousand tonnes)  (Per cent)
World production 3 400 3 376  3 713 +337 + 10.0%
World grindings 3 608 3 641 3 727 + 86 + 2.4%
Surplus/deficit b/ – 242 – 299 – 51
End-of-season stocks 1 598 1 587 1 536 – 51  – 3.2%
Stocks/Grindings ratio 44.3% 43.6% 41.2%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXIII – No. 4 – Cocoa year 2006/07
b/ Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings
Totals and differences may differ due to rounding.

This issue of the Bulletin contains the Secretariat’s first forecasts for the 2007/08 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 the colour charts.  In addition, it includes a review of price developments on international markets for cocoa beans during the October – December quarter of 2007.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition covers annual data from 2003/04 to 2005/06 and quarterly statistics for the period from October-December 2005 to April-June 2007.  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 region, for the period 1997/98 to 2005/06, are presented for reference.

Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format for Windows operating system can be ordered from ICCO Secretariat at the address below:

International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU
Tel: +44 (0)20 7400 5050
Fax: +44 (0)20 7421 5500
E-mail: info@icco.org

At its 31st Special Session, the International Cocoa Council approved the establishment of an independent Working Group on Sustainable Cocoa, facilitated by the ICCO Secretariat. The Working Group will consist of governments of producing and consuming countries, the European Commission, selected NGOs and trade and industry associations, the ICCO Spokespersons for Producers and Consumers and the Chairman of the ICCO Consultative Board on the World Cocoa Economy.

The Executive Director will attend the meetings of the Working Group as an observer. The main task of the Working Group is to prepare the next meeting of the Round Table.

Trinidad & Tobago has informally extended an offer to host the next meeting of the Round Table on Sustainable Cocoa (RTSC).

The first meeting of the Working Group is scheduled to take place on 6 March at the ICCO Headquarters in London.

The Accra Agenda ( EnglishFrenchSpanish )
RTSC Working Group: 1st Meeting Agenda

For further information please use the Search function or go to the Archive of News and related documents.

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