Spain: Cocoa Bean Market Overview 2021

Cocoa Bean Market Size in Spain

In 2020, the Spanish cocoa bean market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated mild growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Cocoa bean consumption peaked at $X in 2016; however, from 2017 to 2020, consumption remained at a lower figure.

Cocoa Bean Exports

Exports from Spain

Cocoa bean exports from Spain contracted notably to X tonnes in 2020, with a decrease of -X% compared with 2019. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports reached the maximum at X tonnes in 2017; however, from 2018 to 2020, exports stood at a somewhat lower figure.

In value terms, cocoa bean exports fell notably to $X in 2020. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2017; however, from 2018 to 2020, exports remained at a lower figure.

Exports by Country

Austria (X tonnes) was the main destination for cocoa bean exports from Spain, accounting for a X% share of total exports. Moreover, cocoa bean exports to Austria exceeded the volume sent to the second major destination, Malaysia (X tonnes), twofold. The third position in this ranking was occupied by the Netherlands (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Austria stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and the Netherlands (+X% per year).

In value terms, the largest markets for cocoa bean exported from Spain were Austria ($X), Malaysia ($X) and the Netherlands ($X), together accounting for X% of total exports.

Among the main countries of destination, Malaysia (+X% per year) recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average cocoa bean export price amounted to $X per tonne, shrinking by -X% against the previous year. Overall, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. The export price peaked at $X per tonne in 2007; however, from 2008 to 2020, export prices failed to regain the momentum.

Average prices varied somewhat for the major export markets. In 2020, the countries with the highest prices were the Netherlands ($X per tonne) and Malaysia ($X per tonne), while the average price for exports to France ($X per tonne) and Austria ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Spain

In 2020, approx. X tonnes of cocoa beans were imported into Spain; with a decrease of -X% compared with 2019 figures. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports rose sharply to $X in 2020. Over the period under review, total imports indicated a tangible increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Cote d'Ivoire (X tonnes) constituted the largest cocoa bean supplier to Spain, accounting for a X% share of total imports. Moreover, cocoa bean imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Ghana (X tonnes), threefold. Cameroon (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, 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: Ghana (-X% per year) and Cameroon (-X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa bean to Spain, comprising X% of total imports. The second position in the ranking was occupied by Ghana ($X), with a X% share of total imports. It was followed by Cameroon, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Cote d'Ivoire amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+X% per year) and Cameroon (+X% per year).

Import Prices by Country

The average cocoa bean import price stood at $X per tonne in 2020, surging by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2009 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2020, the countries with the highest prices were Ghana ($X per tonne) and Ecuador ($X per tonne), while the price for Nigeria ($X per tonne) and Cameroon ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cameroon, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox 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 2020 were Indonesia (959K tonnes), Cote d'Ivoire (920K tonnes) and the Netherlands (819K tonnes), with a combined 42% share of global consumption. Ghana, Belgium, the U.S., Brazil, Malaysia, Germany, Nigeria, France, Turkey and the UK lagged somewhat behind, together comprising a further 40%.

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

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Cote d'Ivoire (2.3M tonnes) remains the largest cocoa bean producing country worldwide, accounting for 37% of total volume. Moreover, cocoa bean production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Ghana (831K tonnes), threefold. Indonesia (788K tonnes) ranked third in terms of total production with a 13% share.

What are the leading suppliers of cocoa beans to Spain?

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In value terms, Cote d'Ivoire ($105M) constituted the largest supplier of cocoa bean to Spain, comprising 40% of total imports. The second position in the ranking was occupied by Ghana ($46M), with a 18% share of total imports. It was followed by Cameroon, with a 6.7% share.

What are the leading importers of cocoa beans from Spain?

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In value terms, the largest markets for cocoa bean exported from Spain were Austria ($219K), Malaysia ($154K) and the Netherlands ($129K), together accounting for 66% of total exports.

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

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In 2020, the average cocoa bean export price amounted to $2,031 per tonne, waning by -30.6% against the previous year.

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

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The average cocoa bean import price stood at $2,686 per tonne in 2020, picking up by 14% against the previous year.

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