The International Cocoa Organisation Expert Working Group on Stocks (EWGS) recently conducted their annual meeting to review global cocoa bean stocks. The ICCO conducts a survey each year on cocoa bean stocks held in warehouses and an assessment of global cocoa bean stock levels.

The recent survey results indicate that stock levels have risen in the past season. Total identifiable stocks are currently at 1.561 mt, up by 403,000 t from last year. They note, however, that this figure includes 199,000 t from South-East Asia, which did not report in the
previous year.

Based on the available statistics, the ICCO gave a stock estimate of 1.924 m t of cocoa at the close of the 2020/21 season. However, the EWGS has found that the true figure is estimated to be 1.764 m t, about 160,000 t less than expected. The disparity is believed to be partly due to a lack of stock data from important producing countries. As a result of the survey’s findings, the ICCO has stated that they may revise their surplus supply estimate (currently 212,000 t) in their upcoming report, due at the end of February 2022.