Estonia: Cocoa Bean Market 2024

Cocoa Bean Market Size in Estonia

The Estonian cocoa bean market surged to $X in 2022, jumping by X% against the previous year. Overall, consumption continues to indicate a remarkable increase. Cocoa bean consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cocoa Bean Production in Estonia

In value terms, cocoa bean production stood at $X in 2022 estimated in export price. Overall, production faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of cocoa beans in Estonia totaled less than X kg per ha in 2022, approximately reflecting 2021. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of cocoa beans were harvested in Estonia; flattening at the previous year's figure. In general, the harvested area showed a relatively flat trend pattern.

Cocoa Bean Exports

Exports from Estonia

In 2022, approx. X tons of cocoa beans were exported from Estonia; waning by X% compared with 2021 figures. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cocoa bean exports fell significantly to $X in 2022. In general, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belarus (X tons) and Russia (X tons) were the main destinations of cocoa bean exports from Estonia.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of X%).

In value terms, Belarus ($X) and Russia ($X) appeared to be the largest markets for cocoa bean exported from Estonia worldwide.

Among the main countries of destination, Belarus, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Belarus totaled $X per ton.

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

Cocoa Bean Imports

Imports into Estonia

In 2022, the amount of cocoa beans imported into Estonia shrank modestly to X tons, flattening at the year before. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports reduced sharply to $X in 2022. In general, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of cocoa bean to Estonia, with a X% share of total imports. Moreover, cocoa bean imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Ecuador (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Cote d'Ivoire stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Ecuador (X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa beans to Estonia, comprising X% of total imports. The second position in the ranking was held by Ecuador ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Cote d'Ivoire amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Venezuela ($X per ton), while the price for Nigeria ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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