ICCO Cuts 2024-25 Surplus Estimate as Global Cocoa Market Shifts into Recovery Mode

ICCO revised 2024-25 world cocoa production to 4.723 million tonnes , up 8.3% year-on-year (+361,000 tonnes) , reflecting a strong recovery in West African output. Global grindings were revised higher to 4.628 million tonnes , but remain 3.8% below last season (-182,000 tonnes) , highlighting continued demand weakness linked to historically high cocoa prices.

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