World Cocoa Bean Stocks For The 2023/24 Season

25th Jan 2025 | Source: ICCO

The ICCO Expert Working Group on Stocks (EWG-S) met today, Thursday 23 January 2025 to review the level of world cocoa bean stocks. The EWG-S is composed of experts in the cocoa field who meet once a year, at the invitation of the ICCO, to review and analyse the results of the ICCO’s annual survey of cocoa bean stocks held in European warehouses as well as assess the level of global cocoa bean stocks. The survey is conducted every year and aims to improve transparency in the cocoa market.

LOCATION OF THE ESTIMATED AND IDENTIFIED COCOA BEAN STOCKS (THOUSAND TONNES)	30 September 2022	30 September 2023	30 September 2024
Stocks in cocoa importing countries	1,192	1,102	639
Stocks in cocoa exporting countries	201^a	123^a	111^b
Stocks in South-East Asia	223	223^c	112^d
Manufacturers’ stocks	90	97	96
Cocoa beans in transit	73	71	82
Minimum estimated world cocoa bean stocks	1,778	1,616	1,041
Minimum estimated world stocks as a percentage of statistically-derived stocks	97%	91%	80%
ICCO statistically-derived stocks^e	1,842	1,778	1,300

Notes: Totals may differ from sum of constituents due to rounding

a/ Seven producing countries provided data

b/ Three producing countries provided data

c/ The EWG-S estimated the stocks data for 30 September 2023 for Southeast Asia;

d/ Data for September 2024 is reported by the Cocoa Association of Asia, but not all those invited to participate in the survey provided data

e/ Published in the ICCO Quarterly Bulletin of Cocoa Statistics, Volume L, No. 4, Cocoa Year 2023/24

While the ICCO Secretariat maintains, so far, its supply deficit estimate of 478,000 tonnes for 2023/24 as published in its latest QBCS, it may revise that figure in its next Bulletin due at the end of February 2025, taking into account the outcome of this survey.