Abidjan, 18 August 2022 – The International Cocoa Organization releases the Cocoa Market Report for July 2022. The current report highlights the following insights:
- Data published by the main regional cocoa associations indicated an increase in grindings in Q2.2022 in Europe and South-East Asia, whereas the inverse situation was observed in North America.
- The European Cocoa Association (ECA) reported that grindings increased in Europe by 2.03% year-on-year to reach 364,081 tonnes during Q2.2022. Nevertheless, these results should be interpreted with caution. Expectations of rising energy might have led grinders to process now and stockpile products for the future.
- In South-East Asia, the Cocoa Association of Asia (CAA) released data showing that cocoa processing activities in the region increased by 3.64% to 228,895 tonnes in Q2.2022 compared with 220,865 tonnes in Q2.2021.
- On the contrary, the National Confectioners’ Association (NCA) reported a year-on-year quarterly decline of 6.29% in cocoa processing. This amounts to 115,899 tonnes against 123,680 tonnes recorded during the second quarter of 2021.
- Currently, the overall increase in the cocoa demand and the anticipated supply deficit for the 2021/22 season do not seem to be sufficient to counterbalance the effects of the current macroeconomic parameters.
You can download the complete report by clicking here.