Cocoa Market
2007 Production and Marketing Outlook
West Africa continues to supply about 70% of the world’s Cocoa production. This is led by the four major producing countries made up of Cote d`Ivoire, Ghana, Nigeria and Cameroon in their respect order production volume.
The Americas produces about 10% of the annual global cocoa output. This is lead by Brazil and Ecuador.
Asia and Oceania produces about 20% of the annual global cocoa output. Indonesia is the major producer of cocoa in this region followed by Papua New Guinea and Malaysia respectively.
Based on different models, the world’s forecast production of cocoa for 2006/07 crop year will be between 3,472,000 and 3,888,000. Poor rainfall pattern, pod borer disease in Asia and Oceania, and Americas are identified as the main contributory factors to the reduction over the previous year of about 5%.
The world’s grinding and demand for cocoa continues to increase over the years. New markets for cocoa and related products coupled with the health benefits that have gained prominence in the international media among others are the key factors of increasing cocoa grindings/demand.
The world market price for cocoa beans has been experiencing marginal increases with fluctuations particularly in the 2006/07 crop season during certain trading days.
Price information: