Abidjan, 23 February 2023 – The International Cocoa Organization releases the Cocoa Market Report for January 2023. The current report highlights the following insights:
- Grindings data published by the main regional cocoa associations for the first quarter of the 2022/23 cocoa season indicated that cocoa processing activities decreased in the main cocoa-consuming regions namely Europe, South-East Asia, and North America.
- Cocoa production in Côte d’Ivoire since the start of the 2022/23 cocoa year is reported to have now settled below last season’s level at 1.650 million tonnes as at 19 February 2023, merely down by 0.5% compared with 1.659 million tonnes recorded at the same period of the 2021/22 season.
- Compared to their settlement values recorded at the beginning of January 2023, prices of the first position cocoa futures contract increased on both sides of the Atlantic, moving up by 2% from US$2,450 to US$2,495 per tonne and by 1% from US$2,568 to US$2,582 per tonne in London and New York respectively.
You can download the complete report by clicking here.