Global cocoa surpluses to continue for four or five years

Global cocoa supply surpluses will continue for the next four or five years if current production trends persist, Jean-Marc Anga, executive director of the International Cocoa Organization (ICCO), told Reuters on Thursday. The ICCO forecasts a global surplus of 371,000 tonnes this season due largely to bumper crops in the world's main producer countries while consumption growth has remained relatively stable. "According to our analysis, unfortunately the bear market trend that we currently have will continue another two or three years," he said, speaking on the sidelines of an ICCO meeting in Ivory Coast's commercial capital, Abidjan.