Cuba: Cocoa Bean Market Overview 2021

Cocoa Bean Market Size in Cuba

The Cuban cocoa bean market reduced to $X in 2019, with a decrease of -X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Cocoa Bean Production in Cuba

In value terms, cocoa bean production declined to $X in 2019 estimated in export prices. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.

The average yield of cocoa beans in Cuba soared to X kg per ha in 2019, growing by X% against the previous year's figure. Over the period under review, the yield, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2018 when the yield increased by X% y-o-y. Over the period under review, the average cocoa bean yield attained the peak level at X kg per ha in 2014; however, from 2015 to 2019, 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 2019, approx. X ha of cocoa beans were harvested in Cuba; with a decrease of -X% on 2018. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. The cocoa bean harvested area peaked at X ha in 2011; however, from 2012 to 2019, the harvested area remained at a lower figure.

Cocoa Bean Exports

Exports from Cuba

In 2019, shipments abroad of cocoa beans increased by X% to X tonnes, rising for the second year in a row after three years of decline. Over the period under review, exports, however, showed a deep setback. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, exports attained the peak of X tonnes. From 2015 to 2019, the growth exports failed to regain the momentum.

In value terms, cocoa bean exports rose sharply to $X in 2019. Overall, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. From 2015 to 2019, the growth exports failed to regain the momentum.

Exports by Country

Belgium (X tonnes), the UK (X tonnes) and the Netherlands (X tonnes) were the main destinations of cocoa bean exports from Cuba, with a combined X% share of total exports.

From 2007 to 2019, the biggest increases were in the Netherlands, while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for cocoa bean exported from Cuba were Belgium ($X), the UK ($X) and the Netherlands ($X), with a combined X% share of total exports.

In terms of the main countries of destination, the Netherlands recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average cocoa bean export price amounted to $X per tonne, which is down by -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2011 to 2019, the growth in terms of the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was France ($X per tonne), while the average price for exports to the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to France, while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Cuba

In 2019, cocoa bean imports into Cuba amounted to X kg, approximately equating 2018 figures. Over the period under review, imports saw a sharp setback. Over the period under review, imports reached the maximum at X tonnes in 2013; however, from 2014 to 2019, imports failed to regain the momentum.

In value terms, cocoa bean imports stood at $X in 2019. Overall, imports saw a abrupt descent. Imports peaked at $X in 2013; however, from 2014 to 2019, imports failed to regain the momentum.

Imports by Country

From 2007 to 2015, the average annual growth rate of volume from No country was relatively modest.

From 2007 to 2015, the average annual rate of growth in terms of value from No country was relatively modest.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cocoa beans in the world?

+

The countries with the highest volumes of cocoa bean consumption in 2019 were Indonesia (1M tonnes), the Netherlands (825K tonnes) and Cote d'Ivoire (560K tonnes), with a combined 42% share of global consumption. These countries were followed by the U.S., Germany, Cameroon, Brazil, Malaysia, France, Ghana, Turkey, Spain and Italy, which together accounted for a further 38%.

What are the largest producers of cocoa beans in the world?

+

The country with the largest volume of cocoa bean production was Cote d'Ivoire (2.2M tonnes), accounting for 38% of total volume. Moreover, cocoa bean production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Ghana (812K tonnes), threefold. The third position in this ranking was occupied by Indonesia (784K tonnes), with a 14% share.

What are the leading importers of cocoa beans from Cuba?

+

In value terms, the largest markets for cocoa bean exported from Cuba were Belgium ($133K), the UK ($76K) and the Netherlands ($71K), together accounting for 81% of total exports.

What is the average export price for cocoa beans in Cuba?

+

In 2019, the average cocoa bean export price amounted to $3,573 per tonne, waning by -4.2% against the previous year.