Global Cocoa yearly surplus reduces by 18%

Mazino Dickson

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The International Cocoa Organization (ICO) has revised its surplus forecasts for the current 2018/2019 cocoa year from 36% to 18%.

These figures come despite a reported increase in World coffee production which rose by 4.3%.

Compared to 2017 production figures which stood at 4,651 tonnes, 2018/2019 production will hit 4,849.

Cocoa buds world grinding figures surpassed initial forecasts for the current production year – initially it was put at 4,750 but now stands at 4,783; this represents a 4.1% rise compared to 4,596 in the last production year.

Cocoa year
(Oct-Sep)
2017/2018 2018/2019 Year-on-year change
Revised
estimates
Previous
forecasts a/
Revised
forecasts
(thousand tonnes) (Per cent)
World production 4 651
4 834
4 849
 + 198 + 4.3%
World grindings 4 596
4 750
4 783
 + 187 + 4.1%
Surplus/deficit b/ + 8
 + 36
+ 18
 
End-of-season stocks 1 722
1 759
1 740
+ 18  + 1.0%
Stocks/Grindings ratio 37.5% 37.0% 36.4%