Abidjan, 23 February 2024 – The International Cocoa Organization releases the Cocoa Market Report for January 2024. The current report highlights the following insights:

  • Another year of a supply deficit and unfavourable weather conditions in West Africa are exacerbating the bullish prices situation.
  • Arrivals at Ivorian ports are estimated to be down by 34% year-on-year to 1.051 million tonnes as at 4 February 2024. In Ghana, graded and sealed cocoa purchases were down year-on-year by 35% to 351,000 tonnes.
  • In January 2024, the nearby contract i.e., MAR-24 price in London and New York averaged US$4,540 per tonne and US$4382 per tonne, respectively. Compared to the nominal average price in January 2023, prices are up by 84% in London and 67% in New York.
  • Grindings data published by regional associations for Q4.2023 do not show significant changes compared to the Q4 period of the previous two cocoa years.
  • Origin processing has been promoted over the past years and Côte d’Ivoire is currently seen as the leading cocoa grinder in the world. However, there is the likelihood of origin grindings being affected by the low availability of beans at major origin destinations.

You can download the complete report by clicking here.

ED(MEM) 1235 – ANNOUNCEMENT APRIL 2024 MEETINGS – English

ED(MEM) 1235 – ANNOUNCEMENT APRIL 2024 MEETINGS – French

ED(MEM) 1235 – ANNOUNCEMENT APRIL 2024 MEETINGS – Spanish

ED(MEM) 1235 – ANNOUNCEMENT APRIL 2024 MEETINGS – Russian

ED(MEM) 1233 – WCC5 Free Gala Dinner Tickets Allocation – English

ED(MEM) 1233 – WCC5 Free Gala Dinner Tickets Allocation – French

ED(MEM) 1233 – WCC5 Free Gala Dinner Tickets Allocation – Spanish

ED(MEM) 1233 – WCC5 Free Gala Dinner Tickets Allocation – Russian

ED(MEM) 1232 – MLs-MOH_Presentations_English

ED(MEM) 1232 – MLs-MOH_Presentations – French

ED(MEM) 1232 – MLs-MOH_Presentations – Spanish

ED(MEM) 1232 – MLs-MOH_Presentations – Russian

Presentations stakeholder forum MOHs in food-upd

London, 25 January 2024. The ICCO Expert Working Group on Stocks (EWG-S) met today, Thursday 25 January 2024 to review the level of world cocoa bean stocks. The EWG-S is composed of experts in the cocoa field who meet once a year, at the invitation of the ICCO, to review and analyse the results of the ICCO’s annual survey of cocoa bean stocks held in European warehouses as well as assess the level of global cocoa bean stocks. The survey is conducted every year (since 2000) and aims to improve transparency in the cocoa market.

 

LOCATION OF THE ESTIMATED AND IDENTIFIED COCOA BEAN STOCKS 30 SEPTEMBER 2021 30 SEPTEMBER 2022 30 SEPTEMBER 2023
Europe 753 842 771
North America (ICE) 355 368 323
Côte d’Ivoire 133 87 67
Ghana 99 13 29
Peru 26 28 28
Total identified stocks (*).                                    a 1,366 1,337 1,218
Manufacturers’ stocks 92 90 97
Cocoa beans in transit 108 73 81
Southeast Asis (**) 199 223 223
Cameroon, Costa Rica, Ecuador, Togo, Venezuela 54 73 73
Total estimated stocks (***).                                 b 452 459 474
Total identified + total estimated (a+b).          c 1,818 1,796 1,690
Total identified stocks as a percentage of total identified and estimated stocks (a/c) 75% 74% 72%
Total statistically-derived stocks (****).                      d 2,059 1,843 1,744
Total stocks as a percentage of statistically derived stocks (c/d) 88% 97% 97%

Notes: Totals may differ from sum of constituents due to rounding

* It refers to stocks identified in the last three consecutive seasons

** The stocks of 2021 and 2022 have been kindly provided by the Cocoa Association of Asia. The 2023 stocks have been estimated by the EWG-S

***  This only includes estimates for the countries listed above

**** Published in the ICCO Quarterly Bulletin of Cocoa Statistics, Volume XLIX, No. 4, Cocoa Year 2022/23

While the ICCO Secretariat maintains, so far, its supply deficit estimate of 99,000 tonnes for 2022/23 as published in its latest Quarterly Bulletin of Cocoa Statistics (QBCS), it may revise that figure in its next Bulletin due at the end of February 2023, taking into account the outcome of this survey.

For more information, please contact Carlos Follana, Marketing and Communication Coordinator, International Cocoa Organization, ICCO Building, II Plateaux ENA – Avenue Boga Doudou, Abidjan, Côte d’Ivoire; Tel: +225 27 22 51 49 50/51 | Fax: +225 27 22 51 49 79 | E-mail: Carlos.Follana@icco.org

ED(MEM) 1231 – EU Maximum Levels for MOH – English

REPORT ON THE ONLINE FORUM ON MINERAL OIL HYDROCARBONS – 18 January 2024_English

ED(MEM) 1231 – EU Maximum Levels for MOH – French

REPORT ON THE ONLINE FORUM ON MINERAL OIL HYDROCARBONS – 18 January 2024_French

ED(MEM) 1231 – EU Maximum Levels for MOH – Spanish

REPORT ON THE ONLINE FORUM ON MINERAL OIL HYDROCARBONS – 18 January 2024_Spanish

ED(MEM) 1231 – EU Maximum Levels for MOH – Russian

REPORT ON THE ONLINE FORUM ON MINERAL OIL HYDROCARBONS – 18 January 2024_Russian

Abidjan, 23 January 2023 – The International Cocoa Organization releases the Cocoa Market Report for December 2023. The current report highlights the following insights:

  • During the calendar year 2023, supply was the major contributory factor that fuelled bullish prices.
  • Other factors that signalled supply deficits and elevated cocoa prices were unconducive weather conditions and diseases. Floods caused delays to the mid-crop harvest.
  • Moreover, black pod disease and swollen shoot virus due to the excess rains during the last quarter of 2023 heightened continued concerns of a shortfall in supply.
  • With the recent surge in freight rates due to tensions in the Red Sea area, international trade is likely to be affected. With already high cocoa prices, an additional cost resulting from high freight rates may be daunting for cocoa users and could affect demand.
  • At the end of 2023, the annual average price of the nearby contract in London had firmed by 46% compared to the previous calendar year. During the same period in New York, the average of the first position contract prices strengthened by 35% year-on-year. Furthermore, the annual average of the US-denominated ICCO daily price stood at US$3,261 per tonne, up by 38% compared to the average price of the previous year. The average of the Euro-denominated prices increased by 34% year-over-year, attaining €3,015 per tonne in 2023.

You can download the complete report by clicking here.

 

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