Agrarian Industry

Agrarian Industry

ICCO revises down 2012/13 global cocoa deficit forecast to 52,000 tons

13 September 2013 14:11 (UTC +04:00)

However, the current marketing year is still set to show the first supply deficit for three years.

End-of-season stocks in the 2012-13 cocoa year, which runs from October to September, now should stand at 1.784 million tons, slightly higher than the 1.773 million tons foreseen in May, ICCO said in a statement.

World production of cocoa should reach 3.986 million tons in 2012-13, higher than the 3.967 million tons forecast in May, ICCO said.

However, the output foreseen in the current year is still 2.4% lower than estimated world output for the 2011-12 cocoa year of 4.082 million tons, which is also a revised estimate and indicates a product surplus of 87,000 tons in that year, the London-based organization said.

End-of-season stocks in the 2011-12 cocoa year have been revised to 1.836 million tons, indicating a stocks-to-grindings ratio of 46.4%, ICCO said.