Abidjan, 16 May 2022 – The International Cocoa Organization releases the Cocoa Market Report for April 2022. The current report highlights the following insights:
- The first half of the 2021/22 cocoa season has so far witnessed a rebound in cocoa demand. Factors that have contributed to the increase in cocoa demand include the resumption of the air travel sector as well as the recommencement of seasonal festivities.
- Available information on crop sizes in main cocoa origin countries in West Africa suggests that the 2021/22 cocoa season is heading towards a deficit of approximately 181,000 tonnes due to a shortfall in production as compared to the 2020/21 cocoa year coupled with the improvement in demand.
- The global cocoa market was generally bearish in April with prices of the nearby cocoa futures contract reaching a 4-month low at US$2,179 per tonne in London and a 3-month low at US$2,430 per tonne in New York. A contributing factor has been the 4% appreciation of the US dollar.
You can download the complete report by clicking here.