Guatemala: Cocoa Bean Market 2024

Cocoa Bean Market Size in Guatemala

In 2022, the Guatemalan cocoa bean market increased by X% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Cocoa Bean Production in Guatemala

In value terms, cocoa bean production reached $X in 2022 estimated in export price. Overall, production, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of cocoa beans in Guatemala amounted to X tons per ha in 2022, standing approx. at the previous year. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the yield increased by X% against the previous year. Over the period under review, the average cocoa bean yield reached the maximum level at X tons per ha in 2013; however, from 2014 to 2022, 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.

The cocoa bean harvested area in Guatemala dropped modestly to X ha in 2022, approximately mirroring the year before. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to cocoa bean production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Cocoa Bean Exports

Exports from Guatemala

In 2022, overseas shipments of cocoa beans increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa bean exports soared to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for cocoa bean exports from Guatemala, accounting for a X% share of total exports. Moreover, cocoa bean exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was taken by Honduras (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Honduras (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for cocoa beans exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Guatemala

In 2022, cocoa bean imports into Guatemala was estimated at X tons, surging by X% on 2021 figures. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cocoa bean imports stood at $X in 2022. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Nicaragua (X tons) was the main cocoa bean supplier to Guatemala, accounting for a X% share of total imports. Moreover, cocoa bean imports from Nicaragua exceeded the figures recorded by the second-largest supplier, Honduras (X tons), more than tenfold.

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

In value terms, Nicaragua ($X) constituted the largest supplier of cocoa beans to Guatemala, comprising X% of total imports. The second position in the ranking was held by Honduras ($X), with a X% share of total imports.

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

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price recorded a perceptible downturn. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Nicaragua ($X per ton), while the price for Honduras totaled $X per ton.

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

Source: IndexBox Platform

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