Angola: Cocoa Bean Market 2023

Cocoa Bean Market Size in Angola

The Angolan cocoa bean market totaled $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption continues to indicate a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of 8%. Cocoa bean consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Bean Production in Angola

In value terms, cocoa bean production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 9.8% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of cocoa beans in Angola amounted to X kg per ha, almost unchanged from the previous year. Overall, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the yield increased by 7.2% against the previous year. The cocoa bean yield peaked at X kg per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cocoa beans production in Angola fell to X ha, almost unchanged from the previous year. The harvested area increased at an average annual rate of +1.2% from 2012 to 2022; 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 with an increase of 6.9% against the previous year. The cocoa bean harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Cocoa Bean Imports

Imports into Angola

In 2022, imports of cocoa beans into Angola amounted to X tons, growing by 6.4% compared with the previous year's figure. In general, imports continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,522%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports rose notably to $X in 2022. Overall, imports showed a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 1,859%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Namibia (X kg) constituted the largest cocoa bean supplier to Angola, with a 51% share of total imports. Moreover, cocoa bean imports from Namibia exceeded the figures recorded by the second-largest supplier, Portugal (X kg), twofold. Italy (X kg) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Namibia totaled +68.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-3.5% per year) and Italy (+28.2% per year).

In value terms, Portugal ($X), Namibia ($X) and Italy ($X) appeared to be the largest cocoa bean suppliers to Angola, together accounting for 83% of total imports.

Among the main suppliers, Namibia, with a CAGR of +45.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, surging by 3.4% against the previous year. Over the period under review, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2019 an increase of 40%. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sao Tome and Principe ($X per ton), while the price for Namibia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sao Tome and Principe (+35.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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