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The International Cocoa Organization today releases its revised estimates for the 2023/24 and 2024/25 cocoa years of world production, grindings, and stocks of cocoa beans, summarized below. The data published in Issue No. 4 – Volume LI – Cocoa Year 2024/25 of the Quarterly Bulletin of Cocoa Statistics, reflects the most recent information available to the Secretariat as at the beginning of November 2025.
The latest Bulletin highlights that the 2023/24 cocoa season closed with a substantial deficit of 489,000 tonnes This is in contrast with the surplus of 49,000 tonnes estimated for the 2024/25 season. Elevated cocoa prices in recent years have encouraged farmers to reinvest in their operations, adopt improved cultivation techniques and expand production capacity, supporting expectations of recovery.
Global cocoa grindings are estimated at 4.81 million tonnes for 2023/24 season and 4.60 million tonnes for 2024/25 season. High input costs have constrained processing margins, limiting growth and resulting in a year-on-year decline in grindings.
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Summary of revised estimates
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Cocoa year (Oct-Sep) |
2023/24 |
2023/24 |
2024/25 |
Year-on-year change |
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Previous |
Revised |
Revised |
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estimates a/ |
estimates |
estimates |
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(thousand tonnes) |
(Per cent) |
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World production |
4 369 |
4 365 |
4 698 |
+ 333 |
+ 7.6% |
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World grindings |
4 819 |
4 810 |
4 602 |
- 208 |
- 4.3% |
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Surplus/deficit b/ |
- 494 |
-489 |
+49 |
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End-of-season stocks |
1 270 |
1 275 |
1 324 |
+49 |
+3.8% |
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Stocks/Grindings ratio |
26.4% |
26.5% |
28.8% |
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Notes:
a/ Estimates published in Quarterly Bulletin of Cocoa Statistics, Vol. LI - No. 3 - Cocoa year 2024/2025
b/ Surplus/deficit: net world crop (gross crop adjusted for loss in weight) minus grindings.
Totals may differ due to rounding.
Statistical information on trade in cocoa beans, cocoa products and chocolate, by country and by region, published in this edition, covers annual data from 2021/22 to 2023/24 and quarterly statistics for the period October-December 2023 to April-June 2025. Details on destinations of exports and origins of imports for leading cocoa exporting countries are also provided.
Copies of the Quarterly Bulletin of Cocoa Statistics, including Microsoft Excel files and Adobe PDF format can be ordered from the ICCO Secretariat at the address below:
About ICCO
The International Cocoa Organization (ICCO) is an inter-governmental organization established in 1973 under the auspices of the United Nations and operating within the framework of successive International Cocoa Agreements. The ICCO is headquartered in Abidjan, Côte d’Ivoire.
The Organization comprises 52 Member countries, of which 23 are cocoa exporters and 29 are cocoa importers: https://www.icco.org/who-we-are/
