Cocoa trading news

Here are some recent news and updates on the cocoa market:

Market Trends:

• Cocoa prices have been trending upward in recent months, driven by strong demand and supply constraints. The London-based ICE Futures Europe cocoa contract has risen by around 10% since the start of the year.
• The International Cocoa Organization (ICCO) has forecast a global cocoa deficit of 100,000-200,000 tonnes for the 2022/23 crop year, citing strong demand and lower production in key producing countries.
• The ICCO has also warned of potential supply chain disruptions due to the ongoing COVID-19 pandemic and climate change, which could impact global cocoa production and trade.

Production and Supply:

• Côte d'Ivoire, the world's largest cocoa producer, has reported a decline in production due to drought and pests. The country's cocoa output is expected to fall by around 10% in the 2022/23 crop year.
• Ghana, the second-largest producer, has also reported a decline in production due to climate change and pests. The country's cocoa output is expected to fall by around 5% in the 2022/23 crop year.
• The European Union has imposed tariffs on cocoa imports from some African countries, including Côte d'Ivoire and Ghana, in response to concerns over child labor and deforestation.

Demand and Consumption:

• Global cocoa demand is expected to continue to grow, driven by increasing consumption in emerging markets such as China and India.
• The global chocolate market is expected to reach $130 billion by 2025, driven by growing demand for premium and specialty chocolate products.
• The COVID-19 pandemic has accelerated the shift towards online shopping and e-commerce, which is expected to continue to drive demand for cocoa and chocolate products.

Industry Developments:

• Hershey's, the US-based chocolate company, has announced plans to increase its cocoa sourcing from sustainable and certified sources.
• Mars, another major chocolate company, has launched a new sustainability initiative aimed at reducing its environmental impact and improving labor practices in its cocoa supply chain.
• The Fairtrade Foundation has launched a new campaign to promote fair trade and sustainable cocoa practices in the global chocolate industry.

Regulatory Developments:

• The European Union has introduced new regulations on cocoa and chocolate products, including stricter labeling requirements and restrictions on the use of certain ingredients.
• The US Food and Drug Administration (FDA) has issued new guidance on the labeling of cocoa and chocolate products, including requirements for the disclosure of allergens and other ingredients.

These are just a few of the recent news and updates on the cocoa market. If you're looking for more information or specific data, please let me know and I'll do my best to help!