Coco market news

Here are some recent market news and updates related to Coco:

Cocoa Market Update

• The International Cocoa Organization (ICCO) has released its latest quarterly forecast, predicting a global cocoa deficit of 100,000 to 200,000 metric tons in the 2022/23 crop year. This is due to a combination of factors, including lower production in West Africa and higher demand from chocolate manufacturers. (Source: ICCO)
• Cocoa prices have been trending upward in recent weeks, driven by concerns over supply chain disruptions and the impact of climate change on cocoa production. The London-based ICE Futures exchange has seen cocoa futures prices rise to their highest level in over two years. (Source: Bloomberg)

Cocoa Production and Supply

• Côte d'Ivoire, the world's largest cocoa producer, has reported a decline in cocoa production for the 2022/23 crop year due to a combination of factors including drought, pests, and diseases. The country's cocoa production is expected to fall by around 10% compared to the previous year. (Source: Reuters)
• Ghana, the second-largest cocoa producer, has also reported a decline in cocoa production due to similar factors. The country's cocoa production is expected to fall by around 5% compared to the previous year. (Source: Ghana News Agency)

Chocolate Industry Trends

• The global chocolate market is expected to grow at a compound annual growth rate (CAGR) of around 4% between 2022 and 2027, driven by increasing demand for premium and specialty chocolate products. (Source: Grand View Research)
• The COVID-19 pandemic has accelerated the trend towards online shopping and e-commerce in the chocolate industry, with many consumers opting for home delivery and online ordering. (Source: Euromonitor International)

Other News and Developments

• The Fairtrade Foundation has launched a new campaign to promote fair trade practices in the cocoa industry, highlighting the importance of fair prices and decent working conditions for cocoa farmers. (Source: Fairtrade Foundation)
• The World Cocoa Foundation has announced a new initiative to promote sustainable cocoa production and reduce deforestation in cocoa-growing regions. The initiative aims to certify 500,000 hectares of cocoa land as sustainable by 2025. (Source: World Cocoa Foundation)

I hope this information is helpful!