Abidjan, 16 Sepember 2022 – The International Cocoa Organization releases the Cocoa Market Report for August 2022. The current report highlights the following insights:
- Though the current growing conditions in West Africa favours the prospects of a good crop for the forthcoming 2022/23 cocoa season, the observed spike in prices of farm inputs, especially fertilizers, is likely to generate some negative effects on cocoa production.
- At the end of August 2022, total stocks of cocoa beans in Exchange licensed warehouses are higher year-over-year on both sides of the Atlantic. Cocoa beans stocks in Europe Exchange warehouses are mainly made of African origins while in the United States, certified stocks of cocoa beans mostly originate from neighbouring Latin American countries.
- In August 2022, prices of the front-month cocoa futures contract averaged US$2,100 per tonne and ranged between US$2,041 and US$2,154 per tonne in London, while in New York the first position contract traded at an average price of US$2,369 per tonne and oscillated between US$2,278 and US$2,430 per tonne.
You can download the complete report by clicking here.