ASEAN: Cocoa Bean Market 2025

Cocoa Bean Market Size in ASEAN

The ASEAN cocoa bean market reached $X in 2022, flattening at the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.1% against 2017 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the immediate term.

Cocoa Bean Production in ASEAN

In value terms, cocoa bean production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Indonesia (X tons) constituted the country with the largest volume of cocoa bean production, accounting for 98% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia was relatively modest.

The average cocoa bean yield contracted modestly to X kg per ha in 2022, remaining stable against the year before. The yield figure increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Over the period under review, the cocoa bean yield attained the peak level at X kg per ha in 2021, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cocoa bean harvested area reached X ha in 2022, remaining relatively unchanged against the previous year. In general, the harvested area, however, recorded a slight setback. Over the period under review, the harvested area dedicated to cocoa bean production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Cocoa Bean Exports

Exports in ASEAN

In 2022, overseas shipments of cocoa beans increased by 0.1% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2017 with an increase of 36% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, cocoa bean exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2018 when exports increased by 15% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the key exporter of cocoa beans in ASEAN, with the volume of exports recording X tons, which was near 75% of total exports in 2022. It was distantly followed by Indonesia (X tons), mixing up a 22% share of total exports. The Philippines (X tons) took a relatively small share of total exports.

Exports from Malaysia increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, the Philippines (+20.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +20.2% from 2012-2022. By contrast, Indonesia (-16.0%) illustrated a downward trend over the same period. Malaysia (+53 p.p.) and the Philippines (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -54.5% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest cocoa bean supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total exports.

In Malaysia, cocoa bean exports increased at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-14.4% per year) and the Philippines (+28.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained 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 the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.0%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Bean Imports

Imports in ASEAN

In 2022, approx. X tons of cocoa beans were imported in ASEAN; with an increase of 3.5% on the previous year's figure. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 73%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, cocoa bean imports dropped to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.2% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 47%. The level of import peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

Malaysia (X tons) and Indonesia (X tons) represented the largest importers of cocoa beans in 2022, amounting to near 50% and 38% of total imports, respectively. It was distantly followed by Singapore (X tons), mixing up an 11% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +30.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa bean importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined 100% share of total imports.

Indonesia, with a CAGR of +27.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, reducing by -4.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 27% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform