Cocoa Market Report for April 2025
Abidjan, 20 May 2025 – The International Cocoa Organization releases the Cocoa Market Report for April 2025. The current report highlights the following insights:
- News about cocoa supplies at the beginning of the mid-crop, i.e., April 2025, revealed the potential for a poor mid-crop from the top-producing countries in West Africa. In addition, the flat tariff rate of 10% on all U.S. imports supported prices.
- On the demand side, Q1 2025 quarterly grinding data from major cocoa associations revealed a decline: the European Cocoa Association reported a drop of 3.7% (to 353,522 tons); the Cocoa Association of Asia (CAA) reported a decline of 3.44% (to 213,898 tons); and the National Confectioners Association (NCA) reported a decline of 2.45% (to 110,278 tons). Although quarterly grindings were negative, they were better than analysts’ expectations. The grinding data signaled some demand resilience and boosted prices.
- With uncertainty concerning the mid-crop lingering, there are five months remaining until the end of the season. The next five months will be interesting as progress in market fundamentals will provide a clearer view of the cocoa market outlook.
Caution should be exercised in the interpretation of the following steps as they are just guidelines.
