Venezuela: Cocoa Bean Market 2024

Cocoa Bean Market Size in Venezuela

The Venezuelan cocoa bean market surged to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, saw a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Bean Production in Venezuela

In value terms, cocoa bean production stood at $X in 2022 estimated in export price. Overall, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Cocoa bean production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of cocoa beans in Venezuela stood at X kg per ha in 2022, remaining relatively unchanged against the previous year. Over the period under review, the yield, however, continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2019 when the yield increased by X%. Over the period under review, the average cocoa bean yield attained the maximum level at X kg per ha in 2012; however, from 2013 to 2022, the 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 Venezuela amounted to X ha, stabilizing at the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X%. The cocoa bean harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

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Cocoa Bean Exports

Exports from Venezuela

In 2022, the amount of cocoa beans exported from Venezuela fell to X tons, reducing by X% on the year before. In general, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports fell to $X in 2022. Over the period under review, exports, however, saw a noticeable increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Indonesia (X tons), the United States (X tons) and Japan (X tons) were the main destinations of cocoa bean exports from Venezuela, with a combined X% share of total exports. Malaysia, Estonia, the Netherlands, France, Switzerland and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Japan ($X) and the United States ($X) constituted the largest markets for cocoa bean exported from Venezuela worldwide, with a combined X% share of total exports. Malaysia, Estonia, France, the Netherlands, Switzerland and Germany lagged somewhat behind, together comprising a further X%.

Estonia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United States ($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 Estonia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Venezuela

In 2020, approx. X kg of cocoa beans were imported into Venezuela; approximately equating the year before. Overall, imports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2020, imports remained at a lower figure.

In value terms, cocoa bean imports totaled $X in 2020. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2020, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2020, Spain (X kg) constituted the largest supplier of cocoa bean to Venezuela, with a approx. X% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of volume from Spain was relatively modest.

In value terms, Spain ($X) constituted the largest supplier of cocoa beans to Venezuela.

From 2012 to 2020, the average annual growth rate of value from Spain was relatively modest.

Import Prices by Country

In 2020, the average cocoa bean import price amounted to $X per ton, flattening at the previous year. Overall, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2020, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

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