Cote d'Ivoire: Cocoa Bean Market 2024

Cocoa Bean Market Size in Cote d'Ivoire

The Cote d'Ivoire's cocoa bean market surged to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a measured 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, consumption decreased by X% against 2020 indices. Cocoa bean consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Cocoa Bean Production in Cote d'Ivoire

In value terms, cocoa bean production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of cocoa beans in Cote d'Ivoire dropped to X kg per ha in 2022, with a decrease of X% on the previous year. Over the period under review, the yield recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. The cocoa bean yield peaked at X kg per ha in 2012; however, from 2013 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 Cote d'Ivoire; increasing by X% compared with 2021 figures. Over the period under review, the total harvested area indicated a buoyant expansion from 2012 to 2022: its figure 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, cocoa bean harvested area decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to cocoa bean production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

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Cocoa Bean Exports

Exports from Cote d'Ivoire

In 2022, cocoa bean exports from Cote d'Ivoire declined to X tons, waning by X% on 2021. Overall, total exports indicated tangible 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, exports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports fell sharply to $X in 2022. In general, total exports indicated pronounced growth 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. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then shrank markedly in the following year.

Exports by Country

The Netherlands (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of cocoa bean exports from Cote d'Ivoire, with a combined X% share of total exports. Malaysia, Germany, Canada, Turkey, Indonesia, Spain, Italy, the UK, France and Brazil lagged somewhat behind, together accounting for a further X%.

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

In value terms, the Netherlands ($X), Belgium ($X) and the United States ($X) constituted the largest markets for cocoa bean exported from Cote d'Ivoire worldwide, together accounting for X% of total exports. Malaysia, Germany, Canada, Turkey, Indonesia, Spain, Italy, the UK, France and Brazil lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Brazil ($X per ton) and France ($X per ton), while the average price for exports to Indonesia ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Cote d'Ivoire

In 2022, purchases abroad of cocoa beans decreased by X% to X kg, falling for the third consecutive year after two years of growth. Over the period under review, imports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at X kg in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports fell significantly to $X in 2022. Overall, imports showed a sharp decline. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X kg) constituted the largest supplier of cocoa bean to Cote d'Ivoire, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Ghana amounted to X%.

In value terms, Ghana ($X) constituted the largest supplier of cocoa beans to Cote d'Ivoire.

From 2012 to 2022, the average annual rate of growth in terms of value from Ghana totaled X%.

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price recorded a buoyant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to X% per year.

Source: IndexBox Platform

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