Ivory Coast cocoa grind plunges 31% in July on poor bean quality

Ivory Coast’s cocoa grind dropped sharply in July, down 31.2% year-on-year to 39,301 metric tonnes, according to exporters’ association GEPEX. The fall reflects lower volumes and poor-quality beans during the mid-crop season, exporters said.

A worker holds cocoa beans at a village in N'Douci, Ivory Coast, November 26, 2015. REUTERS/Luc Gnago/File Photo

From the start of the 2024/25 season in October through July, total grind reached 515,055 tonnes, a 4% decrease compared to the same period last year.

"July's grinding has fallen dramatically this year compared to last year, mainly due to the quality of the beans," the director of an international grinding company based in San Pedro told Reuters.

"They are mediocre this year, so we are rejecting a large quantity due to a lack of fat and a high acidity level."

Lower port arrivals

Between April 1 and August 17, cocoa bean arrivals at the main ports of Abidjan and San Pedro were 350,000 tonnes – down 30% from about 500,000 tonnes during the same period last year.

Exporters said grinders currently have no stocks and will need to rebuild them once the main crop begins in October.

"We are waiting for October to get good beans to rebuild all our stocks and return to the grinding level for the period, i.e. just over 58,000 tonnes per month," said the director of a grinding company based in Abidjan.

"This will require us to be aggressive in our purchasing from the start of the season."

The GEPEX data covers six of the largest grinding companies, including Barry Callebaut, Olam, and Cargill Inc. Ivory Coast has a total grinding capacity of around 750,000 tonnes. It is the world’s top cocoa producer and vies with the Netherlands for the leading spot in cocoa processing.