ICCO Monthly Cocoa Market Report – July 2022

0
A Ghanaian cocoa farmer dries cocoa beans under the sunshine on a plantation in Eastern Region, Ghana, on May 11, 2021.(Xinhua/Seth)
A Ghanaian cocoa farmer dries cocoa beans under the sunshine on a plantation in Eastern Region, Ghana, on May 11, 2021.(Xinhua/Seth)

The latest Monthly Cocoa Market Report for the month of July 2022 issued by the ICCO:

 

  • Data posted by the main regional cocoa associations indicated an increase in grindings in Q2.2022 in Europe and South-East Asia, whereas the inverse situation was observed in North America.
  • The European Cocoa Association (ECA) published that grindings increased in Europe by 2.03% year-on-year to reach 364,081 tonnes during Q2.2022. Nevertheless, these results should be interpreted with caution. The expectations of rising energy might have led grinders to process now and stockpile products for the future.
  • In South-East Asia, the Cocoa Association of Asia (CAA) published data showing that cocoa processing activities in the region increased by 3.64% to 228,895 tonnes in Q2.2022 compared with 220,865 tonnes in Q2.2021.
  • Inversely, the National Confectioners’ Association (NCA) reported a year-on-year quarterly decline of 6.29% in cocoa processing. This amounts to 115,899 tonnes against 123,680 tonnes recorded during the second quarter of 2021.
  • Currently, the overall increase in the demand for cocoa and the anticipated supply deficit for the 2021/22 season do not seem to be sufficient to counterbalance the effects of the current macroeconomic parameters.

I would like to point out that all reports since 2016 can be consulted here : https://www.icco.org/icco-documentation/cocoamarket-review/

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News

LEAVE A REPLY

Please enter your comment!
Please enter your name here