European cocoa stocks fall 1.5pc in 2019/20

LONDON: European warehouse cocoa stocks fell by 1.5% in the 2019/20 season, according to a survey issued by the International Cocoa Organization (ICCO).

The inter-governmental body said the survey indicated stocks at the end of the 2019/20 season (October/September) stood at 774,651 tonnes, down 11,734 tonnes from a year earlier.

Two warehouses did not respond to the survey and so their stock levels were kept unchanged. The two held a total of about 90,000 tonnes of cocoa a year earlier.

The ICCO has estimated there was a marginal global cocoa surplus of 19,000 tonnes in the 2019/20 season.