The current review of the cocoa market situation reports on cocoa price movements on the international markets during the month of April 2007.

Chart I shows the evolution of the ICCO daily prices in US dollars and in SDRs.  Chart II illustrates ICCO daily prices and cocoa bean prices on the London and New York futures markets from February to April 2007.  Chart III shows the level of volatility of ICCO daily prices since the beginning of the 2005/2006 cocoa season.