The ICCO’s Professional Working Group on Shares (EWGS) is comprised of specialists within the cocoa area who evaluation and analyse the outcomes of the ICCO’s annual survey of cocoa bean shares held in warehouses worldwide.
Outcomes for the survey dated 30 September 2020 depict European cocoa shares had been 774,651 tonnes on the finish of the 2019/20 cocoa yr, down from 786,385 tonnes for identical interval in 2019.
In a press release, the ICCO mentioned: “As a consequence of unavoidable circumstances, the Group mentioned solely the European shares and can sooner or later conduct one other assembly to evaluate complete worldwide shares.”
The ICCO is a UN-backed, inter-governmental group established in 1973 and made up of 51 member international locations, of which 22 are cocoa-exporting international locations and 29 are cocoa-importing international locations. These member international locations collectively symbolize 92% of world cocoa exports and 80% of world cocoa imports.
Concerning its newest survey, it mentioned due warning ought to be exercised in deciphering the outcomes, “as not all warehouse-keepers responded and the identical values had been thought of for 2 warehouses (holding about 90,000 tonnes of shares altogether) that didn’t reply to the survey”.
ICE Futures Europe
The share of terminal market shares on the ICE Futures Europe was lowered by 8% from 169,510 tonnes on the finish of the 2018/19 season to 156,730 tonnes for the 2019/20 season. The ICE Futures Europe shares represented nearly 20% of the general cocoa shares of the ICCO European shares survey as on the finish of the 2019/20 cocoa yr, it mentioned.
“Cocoa shares revealed by ICE Futures Europe are usually decrease than the amount of cocoa recognized by the ICCO survey for 2 fundamental causes. Firstly, they symbolize solely a part of the cocoa shares held by warehouse-keepers, as they’re restricted to graded cocoa held in ICE Futures Europe nominated warehouses. Quite the opposite, the ICCO survey endeavours to hunt info on all cocoa shares held by the warehouses, and contains cocoa destined for the terminal market in addition to cocoa shares held by warehouse-keepers for merchants, cocoa processors and chocolate producers.”
The ICCO mentioned its survey additionally compiles information from a wider geographical space and contains cocoa saved in port warehouses which can be outdoors the ICE Futures Europe designated Supply Space.