ABIDJAN, Côte d’Ivoire – The International Cocoa Organization releases its revised forecasts for the 2021/22 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for the 2020/21 cocoa year. The data published in Issue No. 2 – Volume XLVIII – cocoa year 2021/22 of the quarterly bulletin of cocoa statistics, reflect the most recent information available to the Secretariat as at the beginning of May 2022.
Icco quarterly bulletin of cocoa statistics
Compared to the 2020/21 season, for the current 2021/22 season, the forecast for global production is projected to decline by 6% to 4.923 million tonnes. Grindings on the other hand are expected to increase by almost 2% to 5.048 million tonnes. The gap will be covered by a reduction in stocks of 9%.
Several factors including adverse weather conditions and diseases are negatively affecting production for the ongoing season, with concerns for the size and quality of the ongoing mid-crop in West Africa.
Following the Russia-Ukraine conflict, trade disruptions, sanctions and high freight rates are affecting cocoa and fertilizer trade. The shortage of fertilizers on cocoa farms will very likely affect the quantity, quality and size of cocoa beans next year.
Geopolitical and economic challenges
Despite the geopolitical and economic challenges that the world is currently facing, cocoa demand for the first half of the 2021/22 season has so far sustained a positive stance. Factors which contributed to the increase in cocoa demand include the resumption of activities in the air travel sector, which is a major gateway for chocolate sales as well as the recommencement of seasonal festivities.
Positive quarterly earnings reports from major confectionary manufacturers for the period January – March 2022 also reveal that confectionary sales, which include chocolate, have picked up and are heading or at par with pre-Covid-19 era trends.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2018/19 to 2020/21 and quarterly statistics for the period April-June 2020 to October-December 2021. Details on destinations of exports and origins of imports for leading cocoa exporting countries are also provided.
Copies of the quarterly bulletin of cocoa statistics, in Microsoft Excel and Adobe PDF formats, can be ordered from the Icco e-Shop or by email: statistics.section@icco.org
About the International Cocoa Organization
The International Cocoa Organization (Icco) is an inter-governmental organization established in 1973 under the auspices of the United Nations and operating within the framework of successive International Cocoa Agreements.
The Icco is headquartered in Abidjan, Côte d’Ivoire. The Organization comprises 52 members, of which 23 are cocoa exporting countries and 29 are cocoa importing countries. These Member countries together represent 97% of world cocoa exports and 80% of world cocoa imports.
The Icco seeks to promote and support the economic, social, and environmental sustainability of the cocoa value chain, and in particular to improve the living conditions of cocoa farmers.
The Organization acts as a center for knowledge and innovation in the world cocoa economy; as a platform for institutional cooperation to foster dialogue among its Member countries and between key stakeholders in the cocoa value chain; and as a source of technical assistance for its member countries.
