MERCOSUR: Cocoa Bean Market 2024

Cocoa Bean Market Size in MERCOSUR

The MERCOSUR cocoa bean market fell to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Cocoa Bean Production in MERCOSUR

In value terms, cocoa bean production expanded slightly to $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 most prominent rate of growth was recorded 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; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Ecuador (X tons), Brazil (X tons) and Peru (X tons), together comprising X% of total production.

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

The average cocoa bean yield rose significantly to X kg per ha in 2022, growing by X% against the previous year. The yield figure 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 appeared the most rapid in 2017 when the yield increased by X%. As a result, the yield attained the peak level of X kg per ha. From 2018 to 2022, the growth of the cocoa bean yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cocoa beans in MERCOSUR shrank slightly to X ha, remaining relatively unchanged against the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to cocoa bean production attained the peak figure at X ha in 2021, and then fell slightly in the following year.

Cocoa Bean Exports

Exports in MERCOSUR

In 2022, overseas shipments of cocoa beans increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, cocoa bean exports rose significantly to $X in 2022. Total exports indicated buoyant 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. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ecuador (X tons) represented the largest exporter of cocoa beans, committing X% of total exports. It was distantly followed by Peru (X tons), making up a X% share of total exports. Venezuela (X tons) followed a long way behind the leaders.

Ecuador was also the fastest-growing in terms of the cocoa beans exports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) and Venezuela (X%) displayed positive paces of growth. Ecuador (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest cocoa bean supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with a X% share of total exports.

In Ecuador, cocoa bean exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (X% per year) and Venezuela (X% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the export prices attained the maximum 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 Venezuela ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced a decline in the export price figures.

Cocoa Bean Imports

Imports in MERCOSUR

Cocoa bean imports fell sharply to X tons in 2022, with a decrease of X% on 2021. Over the period under review, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cocoa bean imports contracted significantly to $X in 2022. In general, imports saw a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. The following importers - Argentina (X tons) and Colombia (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean imports into Brazil stood at X%. Argentina experienced a relatively flat trend pattern. Colombia (X%) illustrated a downward trend over the same period. While the share of Argentina (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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