Vietnam: Cocoa Bean Market 2024

Cocoa Bean Market Size in Vietnam

In 2022, the Vietnamese cocoa bean market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption posted a resilient expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Vietnam

In value terms, cocoa bean production reduced slightly to $X in 2022 estimated in export price. In general, production continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of cocoa beans in Vietnam surged to X kg per ha, increasing by X% against the year before. Over the period under review, the yield, however, recorded a noticeable slump. Over the period under review, the average cocoa bean yield reached the peak level at X tons per ha in 2020; however, from 2021 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 total area harvested in terms of cocoa beans production in Vietnam amounted to X ha, flattening at 2021. Over the period under review, the harvested area showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 with a decrease of X% against the previous year. Over the period under review, the harvested area dedicated to cocoa bean production reached the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Cocoa Bean Exports

Exports from Vietnam

Cocoa bean exports from Vietnam reduced to X tons in 2022, falling by X% compared with the previous year's figure. In general, exports recorded a deep contraction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports contracted modestly to $X in 2022. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for cocoa bean exports from Vietnam, with a X% share of total exports. Moreover, cocoa bean exports to Malaysia exceeded the volume sent to the second major destination, Japan (X tons), tenfold. France (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Malaysia ($X) remains the key foreign market for cocoa beans exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with an X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and France (X% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Malaysia ($X per ton), while the average price for exports to France ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Cocoa Bean Imports

Imports into Vietnam

Cocoa bean imports into Vietnam soared to X tons in 2022, growing by X% compared with the year before. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa bean imports skyrocketed to $X in 2022. In general, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest cocoa bean supplier to Vietnam, with a X% share of total imports. Moreover, cocoa bean imports from the Philippines exceeded the figures recorded by the second-largest supplier, Cameroon (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2015 to 2022, the average annual rate of growth in terms of volume from the Philippines amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (X% per year) and Mexico (X% per year).

In value terms, the Philippines ($X) constituted the largest supplier of cocoa beans to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Cameroon ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2015 to 2022, the average annual growth rate of value from the Philippines totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, reducing by X% against the previous year. Overall, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Philippines ($X per ton) and Cote d'Ivoire ($X per ton), while the price for Uganda ($X per ton) and Cameroon ($X per ton) were amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :