The International Cocoa Organization released its first forecasts for 2006/07 and revised estimates for the 2005/2006 cocoa year of world production grindings and stocks of cocoa beans. The data, summarized below, are published in issue No. 1 – Volume XXXIII – Cocoa year 2006/07 of the Quarterly Bulletin of Cocoa Statistics and reflect the most recent information available to the Secretariat as at end January 2007.
Summary of forecasts and revised estimates
| Cocoa year (Oct-Sep) |
2006/2007 |
2007/08 |
Year-on-year change |
|
Previous estimates a/ |
Revised estimates |
Forecasts |
|
|
(thousand tonnes) |
|
(Per cent) |
| World production |
3 592 |
3 675 |
3 472 |
-203 |
-5.5% |
| World grindings |
3 476 |
3 462 |
3 540 |
+78 |
+2.3% |
| Surplus/deficit b/ |
+80 |
+176 |
-103 |
|
|
|
|
|
|
|
|
| End-of-season stocks |
1 767 |
1 860 |
1 757 |
-103 |
-5.5% |
| Stocks/Grindings ratio |
50.8% |
53.7% |
49.6% |
|
|
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXII – No. 4 – Cocoa year 2005/06
b/ Surplus/deficit: net world crop (gross crop adjusted loss in weight) minus grindings
Totals and differences may differ due to rounding.
This issue of the Bulletin also contains statistical information for the past four years of production and grindings of cocoa beans, detailed by country. In addition, it comments on crop and demand prospects in the leading countries for the current season and provides a review of the price developments in international markets for cocoa beans during the October – December quarter of 2006.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and region, published in this edition covers annual data from 2002/03 to 2004/05 and quarterly statistics for the period October – December 2004 to April – June 2006. Details of origin of imports and destination of exports for leading cocoa-importing countries are also provided. Historical statistics on cocoa trade and consumption, by country and region, for the period 1996/97 to 2004/05 are presented for reference.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format for Windows operating system can be ordered from the ICCO secretariat at the address below or by clicking on the order form.
International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU
Tel: +44 (0)20 7400 5050
Fax: +44 (0)20 7421 5500
E-mail: info@icco.org
WCC5 – Opening speech HE Mr. Rafael Soriano – Chairman of the ICCO CouncilMay 8, 2024 - 11:20 am
Cocoa Market Report for March 2024April 18, 2024 - 10:16 am
109th International Cocoa Council and Subsidiary Bodies, 25 – 27 April 2024, Brussels, BelgiumApril 15, 2024 - 4:47 pm
June 2007 Quarterly Bulletin of Cocoa Statistics
The latest QBCS contains revised forecasts for the current 2006/07 cocoa year of world production, grindings and stocks of cocoa beans. The data published in this issue, Vol. XXXIII No. 2, Cocoa year 2006/07, reflect the most recent information available to the ICCO Secretariat as at the beginning of May 2007.
Summary of forecasts and revised estimates
Notes:
a/ Forecasts published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXIII – No. 1 – Cocoa year 2006/07
b/ Surplus/deficit: net world crop (gross crop adjusted loss in weight) minus grindings
Totals and differences may differ due to rounding.
This issue also contains:
Current and back issues of the Bulletin, including Microsoft Excel files and Adobe PDF format for Windows operating system can be ordered from the Secretariat or by clicking on the order form.
International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU
Tel: +44 (0)20 7400 5050
Fax: +44 (0)20 7421 5500
E-mail: info@icco.org
Monthly Review of the Cocoa Market Situation April 2007
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.
Monthly review of the cocoa market situation
We are pleased to announce that the review of the cocoa market situation for March 2007 is currently available.
March 2007 Quarterly Bulletin of Cocoa Statistics
The International Cocoa Organization released its first forecasts for 2006/07 and revised estimates for the 2005/2006 cocoa year of world production grindings and stocks of cocoa beans. The data, summarized below, are published in issue No. 1 – Volume XXXIII – Cocoa year 2006/07 of the Quarterly Bulletin of Cocoa Statistics and reflect the most recent information available to the Secretariat as at end January 2007.
Summary of forecasts and revised estimates
Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. XXXII – No. 4 – Cocoa year 2005/06
b/ Surplus/deficit: net world crop (gross crop adjusted loss in weight) minus grindings
Totals and differences may differ due to rounding.
This issue of the Bulletin also contains statistical information for the past four years of production and grindings of cocoa beans, detailed by country. In addition, it comments on crop and demand prospects in the leading countries for the current season and provides a review of the price developments in international markets for cocoa beans during the October – December quarter of 2006.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and region, published in this edition covers annual data from 2002/03 to 2004/05 and quarterly statistics for the period October – December 2004 to April – June 2006. Details of origin of imports and destination of exports for leading cocoa-importing countries are also provided. Historical statistics on cocoa trade and consumption, by country and region, for the period 1996/97 to 2004/05 are presented for reference.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format for Windows operating system can be ordered from the ICCO secretariat at the address below or by clicking on the order form.
International Cocoa Organization
Commonwealth House
1-19 New Oxford Street
London WC1A 1NU
Tel: +44 (0)20 7400 5050
Fax: +44 (0)20 7421 5500
E-mail: info@icco.org
Monthly review of the cocoa market situation 2007
We are pleased to announce you that the review of the cocoa market situation for February 2007 is currently available. As from now, the ICCO Secretariat will be releasing monthly reports on cocoa price movements on international markets.
Monthly review of the cocoa market situation Jan 2007
We are pleased to announce you that the review of the cocoa market situation for January 2007 is currently available. As from now, the ICCO Secretariat will be releasing monthly reports on cocoa price movements on international markets.
Pilot project on price risk management for cocoa farmers
DURATION:
LOCATION:
NATURE OF PROJECT:
ESTIMATED TOTAL COST:
FINANCING COMMITED BY CFC:
CO-FINANCING
COUNTERPART FINANCING
PROJECT EXECUTING AGENCY (PEA):
PROJECT SUPERVISORY BODY:
PROJECT STARTING DATE:
COMPLETION DATE:
Brief Description
The main activities of the project were identification and training of staff of cooperatives and banks to participate in the project; preparation and implementation of pilot operations on hedging strategies; and evaluation of the results of the pilot operations.
Project Objectives
The overall objective of the project was to develop and implement a price risk management strategy for cocoa farmers in Côte d’Ivoire. This would reduce the exposure of smallholder cocoa farmers to price fluctuations on the international market. It would also help to develop capacity to enable farmers and their organizations to make more rational production and investment decisions, based on more realistic assumptions and price expectations.
Project Results
Training materials on price risk management were developed. Representatives of local institutions and cooperatives were trained on price risk management strategies. Sources of price risk at farm-gate were identified. Hedging instruments (POPS and Puts) mitigating these sources of risk were adequately selected. Hedging contracts were drafted and approved by all parties involved. Hedging strategies were implemented on the London and New York cocoa option markets.
Click here to download the Project Completion report (PCR)Cocoa productivity and quality improvement: a participatory approach
DURATION:
LOCATION:
CAMEROON,
COSTA RICA,
COTE D’IVOIRE,
ECUADOR,
GHANA,
MALAYSIA,
NIGERIA,
PAPUA NEW GUINEA,
PERU,
TRINIDAD AND TOBAGO,
VENEZUELA
NATURE OF PROJECT:
ESTIMATED TOTAL COST:
FINANCING COMMITED BY CFC:
CO-FINANCING:
COUNTERPART FINANCING:
PROJECT EXECUTING AGENCY (PEA):
PROJECT SUPERVISORY BODY:
PROJECT STARTING DATE:
COMPLETION DATE:
Brief Description
The main project activities were distribution and validation of promising planting materials on-farm through participatory approach; validation and dissemination of promising cocoa varieties through enhanced international collaboration; and exchange of information and dissemination of results.
Project Objectives
The overall objective of the project was to improve the welfare of smallholder cocoa farmers through higher and more sustainable productivity levels of good quality cocoa at lower production costs. The project aimed to contribute to this objective through the selection, distribution and use of new cocoa varieties with improved yield capacity, resistance to pests and pathogens and good quality traits.
Project Results
Approximately 2000 farms were surveyed in ten different countries and about 1,500 farm selections were established in on-station observation plots or in on-farm trial plots in eight countries. In addition, about 240 on-farm selection plots were established.
About 85 ha of variety trials established in the earlier project were evaluated and several new varieties were selected or confirmed for commercial distribution to farmers. International clone trials were established and evaluated. The average of the local clones yielded substantially more than the average of the international clones. A large germplasm enhancement programme for resistance to Phytophthora pod rot was carried out where about 70% of resistant or moderately resistant trees were obtained.
The project had significantly achieved its objectives. In particular, a number of cocoa varieties that are high yielding and pests and disease resistant have been released to cocoa farmers. In addition, a number of new and improved cocoa planting materials were being tested and validated on research fields for eventual release to farmers.
Click here to download the Project Completion Report (PCR)Supply chain management for total quality cocoa: pilot phase
DURATION:
LOCATION:
NATURE OF PROJECT:
ESTIMATED TOTAL COST:
CO-FINANCING:
COUNTERPART FINANCING:
PROJECT EXECUTING AGENCY (PEA):
PROJECT SUPERVISORY BODY:
PROJECT STARTING DATE:
COMPLETION DATE:
Brief Description
The project started in November 2001 with the development and implementation of a model of a cocoa supply chain system which would meet the quality criteria of CAOBISCO (Association of Chocolate, Biscuit and Confectionery Industries of the European Union). The system began at the co-operative level where the cocoa was collected from the farmers in villages designated as “project villages”. The cocoa collected from each farmer was kept separate from other cocoas and moved to the warehouse of the cooperative where it was checked for physical quality against the standards of the project. If the quality criteria were met, the cocoa would be placed into export bags, sealed and labelled. The cocoa would then be transported to the port, once again checked for quality, then shipped. This system would ensure not only full traceability to the farmer at the village level, but also full integrity of the cocoa between co-operative and shipment, through to the overseas manufacturer. To encourage farmers and co-operatives to engage in the proposed system and in recognition of the extra effort to produce project quality cocoa, chocolate manufacturers paid a Project Participation Incentive (P.P.I) to the traders for distribution among farmers and co-operatives.
Project Objectives
The main objective of the project was to produce and export cocoa that meets the total quality criteria of the cocoa industry as well as to improve the efficiency of the marketing chain in Côte d’Ivoire.
Project Results
During the pilot operations between 2003 and 2009, the project exported a total of 16,526 tonnes of cocoa that met the essential project cocoa requirements of physical quality standards and traceability. About 15,000 farmers and staff of participating cooperatives received training on best post-harvest practices. Training manuals and quality control equipment worth US$150,000 were provided to the participating cooperatives by the project. An estimated US$ 1 million in Project Participation Incentive (PPI) has been paid to the participating cooperatives and to a Social Fund for community development.
The system developed and tested, proved that it was commercially viable to produce cocoa which meets the physical quality standards of CAOBISCO, which is fully traceable and of which the integrity is maintained between cooperative and the point of export. Logistical problems, the socio-political situation in Côte d’Ivoire, availability of appropriate sacks, implementation of timely training etc., were some of the major constraints identified which made it difficult to achieve the required volumes of project cocoa during the pilot operations.
Click here to download the Project ReportSupply chain management for total quality cocoa: pilot phase
Duration:
Location:
Nature of Project:
Estimated total Cost:
Co-financing:
Counterpart Financing:
Project Executing Agency (PEA):
Project Supervisory Body:
Project Starting Date:
Completion Date:
Brief Description
The project started in November 2001 with the development and implementation of a model of a cocoa supply chain system which would meet the quality criteria of CAOBISCO (Association of Chocolate, Biscuit and Confectionery Industries of the European Union). The system began at the co-operative level where the cocoa was collected from the farmers in villages designated as “project villages”. The cocoa collected from each farmer was kept separate from other cocoas and moved to the warehouse of the cooperative where it was checked for physical quality against the standards of the project. If the quality criteria were met, the cocoa would be placed into export bags, sealed and labelled. The cocoa would then be transported to the port, once again checked for quality, then shipped. This system would ensure not only full traceability to the farmer at the village level, but also full integrity of the cocoa between co-operative and shipment, through to the overseas manufacturer. To encourage farmers and co-operatives to engage in the proposed system and in recognition of the extra effort to produce project quality cocoa, chocolate manufacturers paid a Project Participation Incentive (P.P.I) to the traders for distribution among farmers and co-operatives.
Project Objectives
The main objective of the project was to produce and export cocoa that meets the total quality criteria of the cocoa industry as well as to improve the efficiency of the marketing chain in Côte d’Ivoire.
Project Results
During the pilot operations between 2003 and 2009, the project exported a total of 16,526 tonnes of cocoa that met the essential project cocoa requirements of physical quality standards and traceability. About 15,000 farmers and staff of participating cooperatives received training on best post-harvest practices. Training manuals and quality control equipment worth US$150,000 were provided to the participating cooperatives by the project. An estimated US$ 1 million in Project Participation Incentive (PPI) has been paid to the participating cooperatives and to a Social Fund for community development.
The system developed and tested, proved that it was commercially viable to produce cocoa which meets the physical quality standards of CAOBISCO, which is fully traceable and of which the integrity is maintained between cooperative and the point of export. Logistical problems, the socio-political situation in Côte d’Ivoire, availability of appropriate sacks, implementation of timely training etc., were some of the major constraints identified which made it difficult to achieve the required volumes of project cocoa during the pilot operations.
Click here to download the Project Report