Which Country Exports the Most Cocoa Beans in the World?

Beverage Crops February 01, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, the global cocoa beans exports totaled 3.2M tonnes, falling by -5.7% against the previous year level. The total export volume increased at an average annual rate of +1.9% over the period from 2007 to 2016; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014, when it surged by 22% y-o-y. Global cocoa beans export peaked of 3.4M tonnes in 2015, falling back in the following year.

In value terms, cocoa beans exports amounted to $10B in 2016. Overall, it indicated a strong increase from 2007 to 2016: the total exports value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, cocoa beans exports increased by +21.8% against its level of 2013. Global cocoa beans export peaked of $10B in 2015, falling back in the following year.

Top Cocoa Beans Exporting Countries in the World

1. Cote d'Ivoire (3,876.0 million USD)

2. Ghana (1,886.2 million USD)

3. Cameroon (669.6 million USD)

4. Ecuador (622.0 million USD)

5. Belgium (613.5 million USD)

6. Netherlands (440.0 million USD)

7. Malaysia (276.5 million USD)

8. Nigeria (230.7 million USD)

9. Dominican Republic (227.9 million USD)

10. Peru (201.6 million USD)

11. Papua New Guinea (155.5 million USD)

Cocoa Beans Exports By Country

Cote d'Ivoire (1.2M tonnes) was the major exporter of cocoa beans in the world, resulting at 1.2M tonnes, which was approx. 37% of total exports in 2016. Ghana (581K tonnes) held the second position in the ranking, distantly followed by Cameroon (264K tonnes), Ecuador (227K tonnes), and Belgium (187K tonnes). All these countries together occupied near 39% share of total exports. The following exporters - the Netherlands (139K tonnes), Malaysia (91K tonnes), Nigeria (83K tonnes), the Dominican Republic (74K tonnes), Peru (62K tonnes), and Papua New Guinea (50K tonnes) together made up 15% of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of +4.6% from 2007 to 2016. At the same time, Peru (+34.6%), Malaysia (+19.4%), the Netherlands (+13.0%), Ecuador (+12.3%), Cameroon (+8.1%), the Dominican Republic (+5.2%), Belgium (+3.2%), and Ghana (+1.5%) displayed positive paces of growth. Moreover, Peru emerged as the fastest growing importer/exporter in the world, with a CAGR of +34.6% from 2007-2016. By contrast, Papua New Guinea (-1.7%), and Nigeria (-11.4%) illustrated a downward trend over the same period. From 2007 to 2016, the share of Nigeria increased by 5% percentage points, while Peru (-1.8%), Malaysia (-2.2%), Ghana (-2.3%), the Netherlands (-2.9%), Cameroon (-4.1%), Ecuador (-4.5%), and Cote d'Ivoire (-12.3%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($3.9B) remains the largest cocoa beans supplier in the world, making up 39% of global exports. The second position in the ranking was occupied by Ghana ($1.9B), with the share of 19% of global exports. It was followed by Cameroon, with the share of 7%.

From 2007 to 2016, the average annual growth rate of value of cocoa beans exports in Cote d'Ivoire expanded at +11.6%. In the other countries, the average annual rates were as follows: Ghana (+8.6% per year) and Cameroon (+13.4% per year).

Cocoa Beans Export Prices By Country

The average cocoa beans export price stood at $3,087 per tonne in 2016, picking up by 3% against the previous year. Over the period from 2007 to 2016 it increased at an average annual rate of +6.0%.The most prominent rate of growth was recorded in 2009, when export price increased by 30% from the previous year level. Global cocoa beans export peaked of $3,191 per tonne in 2010; however, from 2011 to 2016, it stood at a somewhat lower level.

Average export prices varied somewhat amongst major exporting countries. In 2016, major exporting countries recorded the following export prices: in Belgium ($3,277 per tonne) and Peru ($3,257 per tonne), while Cameroon ($2,539 per tonne) and Ecuador ($2,737 per tonne) were among the lowest.

From 2007 to 2016, the most notable growth rate of cocoa beans export prices was attained by Ghana (+7.0% per year), while the other global leaders experienced more modest paces of growth.

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This article was written on the product's HS-code: 1801.

Source: World: Cocoa (Beans) - Market Report. Analysis And Forecast To 2025