Cocoa prices rallied in the week ending 24 June, after the Cote d’Ivoire government reported that cocoa farmers sent a cumulative 2.24 MMT of cocoa to its ports from 1 October 1 to 19 June, down -1.8% y/y.
The International Cocoa Organization has quelled media reports of a chocolate crisis in 2020 and says there are sufficient cocoa stocks for the next five years.
The International Cocoa Organization (ICCO) has slightly reduced its cocoa deficit forecast for the current crop year and says there are ample stocks for chocolate manufacturers, but a deficit next year could raise prices.
Trading directly with Ecuadorean farmers ensures a better quality bean and boosts the ecological and ethical profile of a chocolate company, claims a US manufacturer.
