Cocoa Bean Market - Côte d'Ivoire’s Cocoa Bean Exports Surged 49% in 2014

Beverage Crops September 22, 2015
Author: Alexander Romanenko
Chief Executive Officer

cocoa bean market

Côte d'Ivoire dominates in the global сocoa bean trade. In 2014, Côte d'Ivoire exported 1,117 thousand tonnes of сocoa beans totaling 3,045 million USD, 49% over the previous year. Its primary trading partner on the global cocoa bean market was the U.S., where it supplied 20% of its total сocoa bean exports in value terms, accounting for 47% of the U.S. total imports.

From 2007 to 2014, Côte d'Ivoire was a net exporter of сocoa beans. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was more pronounced, except for 2013 when low import prices made it less notable.

The Netherlands and Ecuador were among the other main global suppliers of сocoa beans in 2014. However, the fastest growing exporters from 2007 to 2014 were Peru (+45% per year) and Malaysia (+36% per year). The Netherlands significantly strengthened its position in the global export structure.

In 2014, Côte d'Ivoire's top 5 trading partners were the U.S., the Netherlands, Belgium, Germany and Malaysia, with a combined 67% share of Côte d'Ivoire's сocoa bean exports. The share of Belgium increased (+10 percentage points), while the share of the Netherlands illustrated negative dynamics (-7 percentage points).

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Source: World: Cocoa (Beans) - Market Report. Analysis And Forecast To 2020