Extension of the International Cocoa Agreement, 2001

At the 81st regular session of the International Cocoa Council, which was held in Yaoundé, Cameroon from 23-26 March 2010 at the generous invitation of the Government of the Republic of Cameroon, the Council approved the extension of the International Cocoa Agreement, 2001.

The text of the decision agreed by the Council is as follows:

The International Cocoa Council

Observing that the International Cocoa Agreement, 2001 entered into force on 1 October 2003 and that, on 30 September 2010, it will have reached the end of the first period of the two year extension following the fifth year of its entry into force;

Noting further that, in accordance with the provisions of Article 63, paragraph 3, the Council may extend the Agreement in whole or in part for two periods not exceeding two cocoa years each;

DECIDES

To extend the International Cocoa Agreement, 2001, in whole, for a period of two years from 1 October 2010, in accordance with the provisions of Article 63;

To request the Executive Director to transmit the present decision to the Secretary-General of the United Nations who acts as depository of the International Cocoa Agreement.”

Appointment of Dr. Jean-Marc Anga to serve as Acting Executive Director with effect from 1 October 2010

Dr. Jan Vingerhoets, the incumbent Executive Director of the International Cocoa Organization announced to the 81st regular session of the Council that he would not be available for a renewal of his contract after 30 September 2010 for personal reasons.

The Council expressed its sincere gratitude to Dr. Vingerhoets for his excellent and hard working service to the Organization over many years and agreed that Dr. Jean-Marc Anga, the incumbent Director of the Economics and Statistics Division of the Organization, would serve as Acting Executive Director for the duration of the current International Cocoa Agreement with effect from 1 October 2010. The full text of the decision taken by the Council in this respect is as follows:

The International Cocoa Council

Observing that the mandate of the incumbent Executive Director expires on 30 September 2010, and that the latter has indicated that he is not available for an extension of his mandate;

Noting further that the current International Cocoa Agreement, 2001 has been extended, in whole, for a period of two years from 1 October 2010, in accordance with the provisions of Article 63;

Considering that, in accordance with the provisions of Article 62, the mandate of the Executive Director may not exceed the duration of the current International Cocoa Agreement, 2001.

DECIDES

To appoint the incumbent Director of the Economics and Statistics Division to serve as Acting Executive Director on an interim basis, with effect from 1 October 2010, for the duration of the current International Cocoa Agreement. This appointment is without prejudice to the incumbent’s existing permanent contract as Director of the Economics and Statistics Division;

To launch, on 1 October 2011, the formal procedure to recruit and select a new Executive Director in accordance with Rule 67 of the Administrative Rules.”

March 2010 Quarterly Bulletin of Cocoa Statistics

The International Cocoa Organization today releases its first forecasts for the 2009/2010 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for the 2008/2009 cocoa year, as summarized below. The data published in issue No. 1 – Volume XXXVI – Cocoa year 2009/2010 of the Quarterly Bulletin of Cocoa Statistics reflect the most recent information available to the Secretariat as at the beginning of February 2010.

Summary of forecasts and revised estimates

 Cocoa year (Oct-Sep) 2008/2009  2009/2010 Year-on-year change
 Previous estimates a/  Revised estimates  Forecasts
(thousand tonnes)  (Per cent)
 World production  3 515  3 560  3 597  + 37  + 1.0%
 World grindings  3 508  3 492  3 579  + 87  + 2.5%
 Surplus/deficit b/  – 28  + 32  – 18
 End-of-season stocks  1 556  1 611  1 593  -18  – 1.1%
 Stocks/Grindings ratio  44.4%  46.1%  44.5%

Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXV – No. 4 – Cocoa year 2008/09
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 2009/2010 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, the Bulletin 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 October – December quarter of 2009.

Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2005/2006 to 2007/2008 and quarterly statistics for the period from October-December 2007 to April-June 2009. 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 from 1999/2000 to 2007/2008 are presented for reference.

Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format can be ordered from the 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

Meeting of the Working Group for a Future International Cocoa Agreement, 11-15 January 2010

The meeting of the Working Group for a future International Cocoa Agreement will take place in London from 11-15 January 2010, at the ICCO headquarters, Commonwealth House, 1-19 New Oxford Street, London WC1A 1NU. This meeting will be chaired by Dr Victor Iyama from Nigeria

Monday 11 January 2010

09.30-11.00 hrs Working Group for a future International Cocoa Agreement
11.00-11.15 hrs Cocoa Break
11.15-13.00 hrs Working Group for a future International Cocoa Agreement
15.00-16.15 hrs Group meetings
16.15-16.30 hrs Cocoa Break
16.30-18.00 hrs Working Group for a future International Cocoa Agreement

Tuesday 12 January 2010

09.00-11.00 hrs Working Group for a future International Cocoa Agreement
11.00-11.15 hrs Cocoa Break
11.15-13.00 hrs Working Group for a future International Cocoa Agreement
15.00-16.15 hrs Group meetings
16.15-16.30 hrs Cocoa Break
16.30-18.00 hrs Working Group for a future International Cocoa Agreement

Wednesday 13 January 2010

09.00-11.00 hrs Working Group for a future International Cocoa Agreement
11.00-11.15 hrs Cocoa Break
11.15-13.00 hrs Working Group for a future International Cocoa Agreement
15.00-16.15 hrs Group meetings
16.15-16.30 hrs Cocoa Break
16.30-17.30 hrs Working Group for a future International Cocoa Agreement

Thursday, 14 January 2010

09.00-11.00 hrs Working Group for a future International Cocoa Agreement
11.00-11.15 hrs Cocoa Break
11.15-13.00 hrs Working Group for a future International Cocoa Agreement
15.00-16.30 hrs Group meetings
16.30-16.45 hrs Cocoa Break
16.45-18.00 hrs Working Group for a future International Cocoa Agreement

Friday, 15 January 2010

09.00-11.00 hrs Working Group for a future International Cocoa Agreement
11.00-11.15 hrs Cocoa Break
11.15-13.00 hrs Working Group for a future International Cocoa Agreement
15.00-16.30 hrs Group meetings
16.30-16.45 hrs Cocoa Break
16.45-18.00 hrs Working Group for a future International Cocoa Agreement

Meetings of the International Cocoa Council and its subsidiary bodies, Yaounde, Cameroon, 22-26 March 2010

The meetings of the International Cocoa Council, the Consultative Board on the World Cocoa Economy, the Executive Committee and the Working Group for a future International Cocoa Agreement will take place in Yaounde, Cameroon, 22-26 March 2010

ED(MEM) 913.Add.1 Timetable for March meeting
 English  French  Spanish  Russian
Draft Consultative Board Agenda
 English  French  Spanish  Russian
Draft Working Group on a future Agreement
 English  French  Spanish  Russian
Draft Council Agenda
 English  French  Spanish  Russian
Draft Executive Committee Agenda
 English  French Spanish  Russian

Monthly Review of the Cocoa Market Situation, June 2008

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 RSCE has launched a new website

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.

Monthly Review of the Cocoa Market Situation, May 2008

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.

May 2008 Quarterly Bulletin of Cocoa Statistics

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

Monthly Review of the Cocoa Market Situation, March 2008

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.