Ivory Coast, the world’s top cocoa producer, has significantly reduced its cocoa export contract sales for the 2024/25 season.
The Coffee and Cocoa Council (CCC) has attributed this decision to worsening weather conditions that have negatively impacted cocoa production.
Persistent rains and floods have hindered the development of cocoa flowers and pods, leading to a surge in the fungal disease, brown rot.
These adverse weather patterns, unusual for this time of year, have raised concerns about the overall cocoa yield.
The CCC’s decision to limit export contracts aims to mitigate potential supply shortages and prioritize domestic processing.
The industry was initially anticipating a 1.5 million-ton main crop harvest, but recent weather events have prompted a downward revision of this forecast.
Exporters have expressed apprehension about the reduced contract sales, particularly regarding the availability of cocoa during the peak demand period between January and March 2025.
The high volume of cocoa arrivals in recent months might lead to a significant decline in supply in the coming months.
The CCC’s cautious approach to export sales underscores the seriousness of the situation.
If the main crop production falls short of expectations, the regulator may prioritize domestic grinders during the mid-crop season.