The report indicated that a global cocoa production was seen hitting a record high of 4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report.
Here is how much surplus cocoa the world will have in the 2018/19 season according to Informa
Informa’s Agribusiness intelligence has said predicted that a global cocoa surplus in the 2018/19 season even though there will be record production driven by favourable weather in West Africa.
Agribusiness intelligence analyst Sergey Chetvertakov said, “Massive cocoa production is almost certain this year and as a result, we may expect a very volatile market in 2019 as higher-than-expected production pressures cocoa prices.”
This will mean that the ICCO’s most recent estimate for the 2017/2018 season was a small surplus of 22,000 tonnes.
The leading cocoa producer Ivory Coast was projected to have a crop of 2.12 million tonnes, up from the prior season’s 1.96 million with second top producer Ghana predicted to produce 950,000 tonnes, up by 47,000 tonnes.
The report also added that Europe and North America face saturated local markets and the growth rate of grinding was slowing down compared to the two previous seasons.
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