May 2025 Quarterly Bulletin of Cocoa Statistics
Abidjan, 30 May 2025 – The International Cocoa Organization today releases its revised estimates of world production, grindings and stocks of cocoa beans for the 2023/24 cocoa year. The data published in Issue No. 2 – Volume LI – Cocoa year 2024/25 of the Quarterly Bulletin of Cocoa Statistics, reflect the most recent information available to the Secretariat as at the beginning of May 2025.
For the 2023/24 season, global production and grindings are projected to decline by 12.9% and 4.8% to 4.368 million tonnes and 4.818 million tonnes respectively.
Regarding cocoa trade, global exports of cocoa beans and semi-finished cocoa products, measured in bean equivalents, reached 2.490 million tonnes during October to December 2024, representing an increase of 6.1% compared to 2.347 million tonnes recorded during October to December 2023.
A review of price developments on international markets for cocoa beans during the January-March quarter of 2025 is also presented.
Summary of forecasts and revised estimates
| Cocoa year (Oct-Sep) |
2022/2023 | 2023/2024 | Year-on-year change | ||
| Revised estimates |
Previous estimates a/ |
Revised estimates |
|||
| (thousand tonnes) | (Per cent) | ||||
| World gross production | 5 016 | 4 489 | 4 368 | – 648 | – 12.9% |
| World grindings | 5 058 | 4 885 | 4 818 | – 240 | – 4.8% |
| Surplus/deficit b/ | – 92 | – 441 | – 494 | ||
| End-of-season stocks | 1 764 | 1 336 | 1 270 | – 494 | – 28.0% |
| Stocks/Grindings ratio | 34.9% | 27.3% | 26.4% | ||
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. LI – No. 1 – Cocoa year 2024/25
b/ Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings. Totals may differ due to rounding
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2021/22 to 2023/24 and quarterly statistics for the period April-June 2023 to October-December 2024. Details on destinations of exports and origins of imports for leading cocoa exporting countries are also provided.
Caution should be exercised in the interpretation of the data in this issue of the Bulletin as they may be subject to revisions in subsequent Bulletins and reports from the Secretariat.
Copies of the Quarterly Bulletin of Cocoa Statistics, in Microsoft Excel and Adobe PDF formats, can be ordered from the new ICCO e-Shop: www.icco.org/shop or by email: statistics.section@icco.org
