Abidjan, 16 June 2022 – The International Cocoa Organization releases the Cocoa Market Report for May 2022. The current report highlights the following insights:
- Since the start of the season, cocoa prices have generally not depicted any considerable movement although prices within the broader commodity market have witnessed significant ascending trends.
- Notwithstanding the supply reduction for the ongoing 2021/22 season, stocks of cocoa beans held in ICE Futures licensed warehouses in Europe and the United States are generally high compared to the past season. This observation is partly due to the 2020/21 record production which has contributed to the high level of carryover stocks held in warehouses on both sides of the Atlantic for the 2021/22 season.
- At the end of April, monthly inflation rates for all items were 8.1% and 8.3% in the European Union and the United States respectively, representing by far the highest level of monthly inflation rate reached over the last ten (10) years.
- The industrial price index of chocolate manufacturing products increased by 5.0% in the European Union and by 7.7% in the United States, making chocolate manufacturing more expensive compared to the past few years.
You can download the complete report by clicking here.