Spain: Cocoa Bean Market Overview 2021

Cocoa Bean Market Size in Spain

In 2019, after two years of decline, there was growth in the Spanish cocoa bean market, when its value increased by X% to $X. In general, the total consumption indicated a slight increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption decreased by -X% against 2016 indices. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Cocoa bean consumption peaked at $X in 2016; however, from 2017 to 2019, consumption failed to regain the momentum.

Cocoa Bean Exports

Exports from Spain

In 2019, cocoa bean exports from Spain rose slightly to X tonnes, surging by X% compared with the previous year's figure. In general, exports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. Exports peaked at X tonnes in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

In value terms, cocoa bean exports amounted to $X in 2019. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. From 2018 to 2019, the growth exports remained at a lower figure.

Exports by Country

Belgium (X tonnes) was the main destination for cocoa bean exports from Spain, with a X% share of total exports. Moreover, cocoa bean exports to Belgium exceeded the volume sent to the second major destination, Portugal (X tonnes), more than tenfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Belgium amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-X% per year) and the Netherlands (-X% per year).

In value terms, Belgium ($X) emerged as the key foreign market for cocoa bean exports from Spain, comprising X% of total exports. The second position in the ranking was occupied by Portugal ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Belgium amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-X% per year) and the Netherlands (-X% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per tonne in 2019, rising by X% against the previous year. In general, the export price posted a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per tonne. From 2018 to 2019, the growth in terms of the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2019, the country with the highest price was Belgium ($X per tonne), while the average price for exports to the Netherlands ($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 Portugal, while the prices for the other major destinations experienced a decline.

Cocoa Bean Imports

Imports into Spain

In 2019, approx. X tonnes of cocoa beans were imported into Spain; with an increase of X% compared with the previous year. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

In value terms, cocoa bean imports totaled $X in 2019. Overall, total imports indicated a modest increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports decreased by -X% against 2016 indices. The growth pace was the most rapid in 2009 when imports increased by X% year-to-year. Imports peaked at $X in 2016; however, from 2017 to 2019, imports failed to regain the momentum.

Imports by Country

Cote d'Ivoire (X tonnes), Ghana (X tonnes) and Nigeria (X tonnes) were the main suppliers of cocoa bean imports to Spain, with a combined X% share of total imports. These countries were followed by Cameroon, the Dominican Republic, France, Peru, Ecuador and Togo, which together accounted for a further X 2007 to 2019, the biggest increases were in Peru (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa bean suppliers to Spain were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), together accounting for X% of total imports. Cameroon, the Dominican Republic, France, Peru, Ecuador and Togo lagged somewhat behind, together accounting for a further X the main suppliers, Peru (+X% per year) saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa bean import price stood at $X per tonne in 2019, picking up by X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2009 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Peru ($X per tonne) and the Dominican Republic ($X per tonne), while the price for Cameroon ($X per tonne) and Togo ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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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), together accounting for 45% of global consumption.

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

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Cote d'Ivoire (2.2M tonnes) remains the largest cocoa bean producing country worldwide, comprising approx. 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 suppliers of cocoa beans to Spain?

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In value terms, the largest cocoa bean suppliers to Spain were Cote d'Ivoire ($95M), Ghana ($56M) and Nigeria ($20M), with a combined 72% share of total imports. Cameroon, the Dominican Republic, France, Peru, Ecuador and Togo lagged somewhat behind, together comprising a further 21%.

What are the leading importers of cocoa beans from Spain?

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In value terms, Belgium ($1M) emerged as the key foreign market for cocoa bean exports from Spain, comprising 90% of total exports. The second position in the ranking was occupied by Portugal ($47K), with a 4.1% share of total exports.

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

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The average cocoa bean export price stood at $3,023 per tonne in 2019, with an increase of 7% against the previous year.

What is the average import price for cocoa beans in Spain?

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In 2019, the average cocoa bean import price amounted to $2,355 per tonne, rising by 3.3% against the previous year.