Record increase of cocoa production up by 10.2%

The international organization of cocoa announced a record increase of world production of cocoa beans during the harvest which ended September 30. The production reached 4,345 million tonnes, an increase of 10.2% over the previous season.

"This is excellent news, because we have a stretched market, explains Florence Pradier, Executive Director of the Union of chocolate. This shows an opportunity for major producers to produce when the demand is there. This should mitigate speculation and therefore lower the purchase price for the industry."

The prices of brown bean increased by 18% in the first half, after having increased by 25% by 2013, representing a strong financial incentive for producers. The fear of the spread of the Ebola virus also contributed to soaring prices, even though the major producing countries remained spared.

This production record is explained by favourable weather conditions in Ivory Coast, which accounts for 40% of world production, as well as the first harvests of new plantations in the southwest of the country but demand is also expected to reach a record level of 4.2 million tons (+ 3.7%), due to the increase in the standard of living of the middle class in emerging countries.