Cocoa grinding in Ivory Coast falls 14.2% in September, according to GEPEX data

Ivory Coast, the world's leading cocoa producer, has seen a 14.2% decrease in cocoa milling in September 2024, totaling 54,984 metric tons. This decline, part of an overall 13.1% drop since the start of the 2023/24 season, is attributed to challenges such as high operating costs, crop quality issues, and logistical and climate problems, despite the sector having a total capacity of 712,000 tons per year. This reduction could impact the global chocolate market and have implications for export prices of raw cocoa. The industry is closely monitoring the situation as the end of the 2023/24 season approaches, with expectations for recovery strategies to be implemented.

Cocoa milling in Ivory Coast, the world’s largest producer of the commodity, fell 14.2% in September 2024, totaling 54,984 metric tons processed in the month, according to GEPEX, an association that brings together the country’s main cocoa exporters. This decline follows a trend observed throughout the year, with accumulated milling since the start of the 2023/24 season in October of the previous year totaling 642,515 tons of beans, a drop of 13.1% compared to the same period last season. GEPEX brings together six of the largest cocoa milling companies, including giants such as Barry Callebaut, Olam and Cargill, which together account for a significant share of Ivory Coast’s milling capacity. Despite a total capacity of 712,000 tons per year, the processing sector has faced challenges that limit the full use of this infrastructure. Market Impacts and Global Competition The decline in cocoa milling in one of the world’s main producing hubs could have consequences for the global ...