Asia: Cocoa Bean Market 2024

Cocoa Bean Market Size in Asia

In 2022, the Asian cocoa bean market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Cocoa Bean Production in Asia

In value terms, cocoa bean production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Indonesia (X tons) remains the largest cocoa bean producing country in Asia, accounting for X% of total volume. Moreover, cocoa bean production in Indonesia exceeded the figures recorded by the second-largest producer, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia was relatively modest. In the other countries, the average annual rates were as follows: India (X% per year) and the United Arab Emirates (X% per year).

The average cocoa bean yield shrank to X kg per ha in 2022, leveling off at the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of yield peaked at X kg per ha in 2021, and then reduced in the following year. 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 Asia stood at X ha, remaining stable against 2021. In general, the harvested area, however, saw a mild descent. Over the period under review, the harvested area dedicated to cocoa bean production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Cocoa Bean Exports

Exports in Asia

In 2022, the amount of cocoa beans exported in Asia dropped to X tons, standing approx. at the year before. Overall, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cocoa bean exports reduced to $X in 2022. In general, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia was the largest exporter of cocoa beans in Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Indonesia (X tons), mixing up an X% share of total exports. The following exporters - the Philippines (X tons) and the United Arab Emirates (X tons) - each recorded a X% share of total exports.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) and Indonesia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Indonesia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest cocoa bean supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia totaled X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the Philippines ($X per ton) and Indonesia ($X per ton), while the United Arab Emirates ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Bean Imports

Imports in Asia

In 2022, the amount of cocoa beans imported in Asia contracted to X tons, reducing by X% on the previous year. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, cocoa bean imports contracted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Malaysia was the main importing country with an import of about X tons, which reached X% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a X% share, followed by Singapore (X%) and Turkey (X%). Japan (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa bean importing markets in Asia were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined X% share of total imports.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Singapore ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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