Asia: Cocoa Bean Market 2025

Cocoa Bean Market Size in Asia

In 2022, the Asian cocoa bean market decreased by -0.6% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +44.2% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Cocoa Bean Production in Asia

In value terms, cocoa bean production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The country with the largest volume of cocoa bean production was Indonesia (X tons), accounting for 94% of total volume. Moreover, cocoa bean production in Indonesia exceeded the figures recorded by the second-largest producer, India (X tons), more than tenfold.

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

In 2022, the average yield of cocoa beans in Asia reduced modestly to X kg per ha, remaining constant against the year before. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 31% against the previous year. Over the period under review, the cocoa bean yield reached the peak level at X kg per ha in 2021, and then shrank slightly 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 totaled X ha in 2022, stabilizing at 2021 figures. In general, the harvested area, however, saw a mild slump. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Cocoa Bean Exports

Exports in Asia

In 2022, overseas shipments of cocoa beans decreased by -0.2% to X tons, falling for the fourth year in a row after three years of growth. In general, exports saw a pronounced downturn. The growth pace was the most rapid in 2017 when exports increased by 35%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, cocoa bean exports shrank modestly to $X in 2022. Overall, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2018 when exports increased by 19%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia represented the key exporting country with an export of around X tons, which recorded 73% of total exports. It was distantly followed by Indonesia (X tons), generating a 21% share of total exports. The following exporters - the United Arab Emirates (X tons) and the Philippines (X tons) - each reached a 4.4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean exports from Malaysia stood at +7.7%. At the same time, the Philippines (+20.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.2% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Indonesia (-16.0%) illustrated a downward trend over the same period. Malaysia (+51 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -53.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest cocoa bean supplier in Asia, comprising 71% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total exports. It was followed by the United Arab Emirates, with a 2.7% share.

In Malaysia, cocoa bean exports increased at an average annual rate of +7.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-14.4% per year) and the United Arab Emirates (-1.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, approximately mirroring the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 28%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and the Philippines ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were 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 Asia

Cocoa bean imports amounted to X tons in 2022, approximately reflecting 2021 figures. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +84.5% against 2015 indices. The growth pace was the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, cocoa bean imports contracted to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +14.8% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 37%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Malaysia (X tons) and Indonesia (X tons) prevails in imports structure, together creating 72% of total imports. Singapore (X tons) held a 9.1% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (8.2%). Japan (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +30.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, together comprising 81% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +27.8%, recorded 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 import price in Asia stood at $X per ton in 2022, dropping by -5.7% against the previous year. In general, the import price recorded a slight setback. The pace of growth was the most pronounced in 2014 when the import price increased by 23% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Turkey ($X per ton) were 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

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