Amid largely bearish updates on grind, potentially lower grind growth in 2019/20 could be at least partly matched by smaller West African cocoa crops.

From October through April, we estimate cocoa arrivals could be down around 3 percent YOY from arrivals a year prior near 1.75 MMT. Cocoa purchase in Ghana, the number-two cocoa origin, could be down some 2 percent from some 750,000 MT of cumulative purchases a year ago.

Through Apr. 26, Reuters reports that Ivorian arrivals, as estimated by traders, were around 1.73 MMT, down 5 percent YOY.

Cumulative cocoa bean Ivory Coast arrivals & Ghana purchases

Source: Trade sources, McKeany-Flavell
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.