Abidjan, 30 November 2023 – The International Cocoa Organization today releases its revised estimates for the 2021/22 and 2022/23 cocoa years for world production, grindings and stocks of cocoa beans, as summarized below. The data published in Issue No. 4 – Volume XLIX – Cocoa Year 2022/23 of the Quarterly Bulletin of Cocoa Statistics reflect the latest information available to the Secretariat as of early November 2023.
The commentary of this edition of the Bulletin points out that the 2022/23 season was mainly characterized by a decline in supply from the two main producing countries and ended with a global production deficit. As the current 2023/24 season is also expected to end with a global production deficit, market participants continue to weigh the situation of successive supply deficits.
In this regard, several revisions have been made to the 2022/23 cocoa balance sheet. On the supply side, the production estimate has been revised upwards by 15,000 tons to 4.953 million tons, compared to the 4.938 million tons estimated in the previous bulletin.
As cocoa bean grindings are an indicator of cocoa demand, the continuous decline in quarterly grindings data published by the major regional cocoa associations during the 2022/23 season, compared to the previous year, indicates a slowdown in cocoa demand. On the demand side, grindings were revised down to 5.002 million tons from 5.005 million tons in the previous Bulletin.
Summary of revised estimates
Cocoa year
(Oct-Sep) |
2021/2022 |
2022/2023 |
Year-on-year change |
|
Revised
estimates |
Previous
estimates a/ |
Revised
estimates |
|
|
(thousand tonnes) |
(Per cent) |
World gross production |
4 826 |
4 938 |
4 953 |
+ 127 |
+ 2.6% |
World grindings |
4 994 |
5 005 |
5 002 |
+ 8 |
+ 0.2% |
Surplus/deficit b/ |
– 216 |
– 116 |
– 99 |
|
|
|
|
|
|
|
|
End-of-season stocks |
1 843 |
1 727 |
1 744 |
– 99 |
– 5.4% |
Stocks/Grindings ratio |
36.9% |
34.5% |
34.9% |
|
|
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIX – No. 3 – Cocoa year 2022/23
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 2019/20 to 2021/22 and quarterly statistics for the period October-December 2021 to April-June 2023. 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
Cocoa Market Report for December 2023
Abidjan, 23 January 2023 – The International Cocoa Organization releases the Cocoa Market Report for December 2023. The current report highlights the following insights:
You can download the complete report by clicking here.
ED(MEM) 1230 – Nominations of Exporting Members to Committees and Working Groups
ED(MEM) 1230 – Nominations of Exporting Members to Committees and Working Groups – English
ED(MEM) 1230 – Nominations of Exporting Members to Committees and Working Groups – French
ED(MEM) 1230 – Nominations of Exporting Members to Committees and Working Groups – Spanish
ED(MEM) 1229 – Information session on EU Regulation on Deforestation
ED(MEM) 1229 – Information session on EU Regulation on Deforestation – English
ED(MEM) 1229 – Information session on EU Regulation on Deforestation – French
ED(MEM) 1229 – Information session on EU Regulation on Deforestation – Spanish
ED(MEM) 1229 – Information session on EU Regulation on Deforestation – Russian
ED(MEM) 1228 – Feasibility Study on African Cocoa Exchange (AfCX) Phase I Report
ED(MEM) 1228 – Feasibility Study on African Cocoa Exchange (AfCX) Phase I Report – English
ED(MEM) 1228 – Feasibility Study on African Cocoa Exchange (AfCX) Phase I Report – French
ED(MEM) 1228 – Feasibility Study on African Cocoa Exchange (AfCX) Phase I Report – Spanish
ED(MEM) 1228 – Feasibility Study on African Cocoa Exchange (AfCX) Phase I Report – Russian
ED(MEM) 1227 – Compliance with the Provision of Quarterly Statistical Data
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Feasibility Study on Africa Cocoa Exchange (AfCX)
Abidjan, December 2023 – An Africa Cocoa Exchange will revolutionize cocoa marketing in Africa and bring positive impact to achieving a sustainable world cocoa economy. Recognizing that a “commodity exchange is an inclusive but market-friendly and financially sustainable solution for imposing structure on Africa’s often fragmented agricultural value chain”, the International Cocoa Organization (ICCO) commissioned a study to assess the technical feasibility and financial viability of establishing an Africa Cocoa Exchange (AfCX).
The feasibility study was split into two phases (Phase I and Phase II) to allow for a constructive stakeholders’ engagement and a systematic and logical approach to identifying a suitable exchange model that is appropriate for Africa.
Phase I of the study involves:
Phase II of the study involves:
The Phase I of the study has been completed and the reports are now available to the public for download here. The main report of the feasibility study should be read together with its five appendixes.
Please contact yunusa.abubakar@icco.org for any enquiries on the reports. Work on Phase II of the feasibility study will commence as soon as funding has been secured.
Cocoa Market Report for November 2023
Abidjan, 12 December 2023 – The International Cocoa Organization releases the Cocoa Market Report for November 2023. The current report highlights the following insights:
You can download the complete report by clicking here.
ED(MEM) 1226 – First meeting of the Brussels Declaration Drafting Committee
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November 2023 Quarterly Bulletin of Cocoa Statistics
Abidjan, 30 November 2023 – The International Cocoa Organization today releases its revised estimates for the 2021/22 and 2022/23 cocoa years for world production, grindings and stocks of cocoa beans, as summarized below. The data published in Issue No. 4 – Volume XLIX – Cocoa Year 2022/23 of the Quarterly Bulletin of Cocoa Statistics reflect the latest information available to the Secretariat as of early November 2023.
The commentary of this edition of the Bulletin points out that the 2022/23 season was mainly characterized by a decline in supply from the two main producing countries and ended with a global production deficit. As the current 2023/24 season is also expected to end with a global production deficit, market participants continue to weigh the situation of successive supply deficits.
In this regard, several revisions have been made to the 2022/23 cocoa balance sheet. On the supply side, the production estimate has been revised upwards by 15,000 tons to 4.953 million tons, compared to the 4.938 million tons estimated in the previous bulletin.
As cocoa bean grindings are an indicator of cocoa demand, the continuous decline in quarterly grindings data published by the major regional cocoa associations during the 2022/23 season, compared to the previous year, indicates a slowdown in cocoa demand. On the demand side, grindings were revised down to 5.002 million tons from 5.005 million tons in the previous Bulletin.
Summary of revised estimates
(Oct-Sep)
estimates
estimates a/
estimates
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XLIX – No. 3 – Cocoa year 2022/23
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 2019/20 to 2021/22 and quarterly statistics for the period October-December 2021 to April-June 2023. 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
Cocoa Market Report for October 2023
Abidjan, 16 November 2023 – The International Cocoa Organization releases the Cocoa Market Report for October 2023. The current report highlights the following insights:
You can download the complete report by clicking here.