Australia and Oceania: Cocoa Bean Market 2024

Cocoa Bean Market Size in Australia and Oceania

The cocoa bean market in Australia and Oceania declined rapidly to $X in 2022, dropping by X% against the previous year. Overall, consumption recorded a pronounced slump. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cocoa Bean Production in Australia and Oceania

In value terms, cocoa bean production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Papua New Guinea (X tons) constituted the country with the largest volume of cocoa bean production, accounting for X% of total volume. Moreover, cocoa bean production in Papua New Guinea exceeded the figures recorded by the second-largest producer, Solomon Islands (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Papua New Guinea totaled X%.

In 2022, the average yield of cocoa beans in Australia and Oceania reduced sharply to X kg per ha, dropping by X% compared with the year before. Over the period under review, the yield recorded a noticeable slump. The most prominent rate of growth was recorded in 2016 when the yield increased by X% against the previous year. The level of yield peaked at X kg per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 Australia and Oceania; which is down by X% against the year before. Overall, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

Cocoa Bean Exports

Exports in Australia and Oceania

After two years of growth, overseas shipments of cocoa beans decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, cocoa bean exports reduced to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Papua New Guinea prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Solomon Islands (X tons), committing a X% share of total exports.

Papua New Guinea experienced a relatively flat trend pattern with regard to volume of exports of cocoa beans. At the same time, Solomon Islands (X%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. Solomon Islands (X p.p.) significantly strengthened its position in terms of the total exports, while Papua New Guinea saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Papua New Guinea ($X) remains the largest cocoa bean supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Solomon Islands ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Papua New Guinea was relatively modest.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, recorded a mild setback. The pace of growth was the most pronounced in 2014 when the export price increased by 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 stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while Solomon Islands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Solomon Islands (X%).

Cocoa Bean Imports

Imports in Australia and Oceania

In 2022, supplies from abroad of cocoa beans decreased by X% to X tons, falling for the second year in a row after three years of growth. Total imports indicated temperate 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports reduced to $X in 2022. Total imports indicated a moderate expansion 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) was the key importer of cocoa beans, generating X% of total imports. It was distantly followed by Australia (X tons), generating a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean imports into New Zealand stood at X%. At the same time, Australia (X%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Australia increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) constitutes the largest market for imported cocoa beans in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in New Zealand totaled X%.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, shrinking by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Source: IndexBox Platform

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