Asia-Pacific: Cocoa Bean Market 2024

Cocoa Bean Market Size in Asia-Pacific

The Asia-Pacific cocoa bean market shrank to $X in 2022, waning by X% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value 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, consumption increased by X% against 2017 indices. The level of consumption peaked at $X in 2021, and then contracted modestly in the following year.

Cocoa Bean Production in Asia-Pacific

In value terms, cocoa bean production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Papua New Guinea (X% per year) and India (X% per year).

In 2022, the average yield of cocoa beans in Asia-Pacific shrank modestly to X kg per ha, with a decrease of X% compared with the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the cocoa bean yield reached the peak level at X kg per ha in 2021, and then fell slightly 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, approx. X ha of cocoa beans were harvested in Asia-Pacific; approximately equating the year before. In general, the harvested area saw a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Cocoa Bean Exports

Exports in Asia-Pacific

Cocoa bean exports reduced slightly to X tons in 2022, remaining relatively unchanged against the year before. Over the period under review, exports saw a noticeable curtailment. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa bean exports shrank to $X in 2022. In general, exports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia was the key exporter of cocoa beans in Asia-Pacific, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Papua New Guinea (X tons) and Indonesia (X tons), together constituting a X% share of total exports. Solomon Islands (X tons) took a little share of total exports.

Malaysia was also the fastest-growing in terms of the cocoa beans exports, with a CAGR of X% from 2012 to 2022. At the same time, Solomon Islands (X%) displayed positive paces of growth. Papua New Guinea experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, Papua New Guinea and Solomon Islands increased by X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Malaysia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Papua New Guinea ($X per ton) and Indonesia ($X per ton), while Malaysia ($X per ton) and Solomon Islands ($X per ton) were amongst the lowest.

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

Cocoa Bean Imports

Imports in Asia-Pacific

In 2022, cocoa bean imports in Asia-Pacific contracted to X tons, waning by X% on the year before. Total imports indicated a temperate increase 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 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, cocoa bean imports dropped to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value 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 2014 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Malaysia (X tons) represented the main importer of cocoa beans, creating X% of total imports. Indonesia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%) and Japan (X%). India (X tons) took a minor share of total imports.

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-Pacific were Malaysia ($X), Indonesia ($X) and Singapore ($X), together accounting for X% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 import price in Asia-Pacific stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a 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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