Benin: Cocoa Market 2020

Cocoa Market Size in Benin

The revenue of the cocoa market in Benin amounted to $X in 2018, flattening at the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Benin cocoa consumption peaked at $X in 2016; however, from 2017 to 2018, consumption stood at a somewhat lower figure.

Cocoa Production in Benin

In value terms, cocoa production stood at $X in 2018 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Benin cocoa production peaked at $X in 2011; however, from 2012 to 2018, production remained at a lower figure.

Average yield of cocoa (beans) in Benin amounted to X kg per ha in 2018, approximately equating the previous year. Over the period under review, the cocoa yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the harvested area of cocoa (beans) in Benin amounted to X ha, approximately mirroring the previous year. Over the period under review, the cocoa harvested area continues to indicate a relatively flat trend pattern.

Cocoa Exports

Exports by Country

Cote d'Ivoire was the main exporting country with an export of about X tons, which amounted to X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Cameroon (X%), Ecuador (X%) and Belgium (X%). The Netherlands (X tons), Malaysia (X tons) and Nigeria (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Malaysia, while the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa markets from Benin were Cote d'Ivoire ($X), Ghana ($X) and Cameroon ($X), with a combined X% share of total exports. Ecuador, Belgium, the Netherlands, Malaysia and Nigeria lagged somewhat behind, together accounting for a further X experienced the highest growth rate of exports, in terms of the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The cocoa export price in Benin stood at $X per ton in 2018, remaining relatively unchanged against the previous year. In general, the cocoa export price continues to indicate a relatively flat trend pattern. Benin export price peaked at $X per ton in 2015; however, from 2016 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the Netherlands ($X per ton), while Cameroon ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Ghana, while the other leaders experienced more modest paces of growth.

Cocoa Imports

Imports into Benin

In 2018, the imports of cocoa (beans) into Benin amounted to X tons, reducing by -X% against the previous year. Overall, cocoa imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Over the period under review, cocoa imports attained their maximum at X tons in 2015; however, from 2016 to 2018, imports stood at a somewhat lower figure.

In value terms, cocoa imports totaled $X in 2018. Overall, cocoa imports, however, continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Benin imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, the Netherlands (X tons) was the major importer of cocoa (beans), achieving X% of total imports. The U.S. (X tons) occupied an X% share (based on tons) of total imports, which put it in second place, followed by Belgium (X%), Malaysia (X%), Germany (X%) and Indonesia (X%). The following importers - France (X tons), Spain (X tons), the UK (X tons), Italy (X tons), Turkey (X tons) and Singapore (X tons) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to cocoa imports into the Netherlands stood at +X%. At the same time, Indonesia (+X%), Belgium (+X%), Italy (+X%), Turkey (+X%), Spain (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Singapore, France and Germany experienced a relatively flat trend pattern. By contrast, Malaysia (-X%) and the UK (-X%) illustrated a downward trend over the same period. While the share of the Netherlands (+X p.p.), Indonesia (+X p.p.), Belgium (+X p.p.) and the U.S. (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of the UK (-X p.p.) and Malaysia (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported cocoa (beans) into Benin, comprising X% of global imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the Netherlands amounted to +X%. In the other countries, the average annual rates were as follows: the U.S. (+X% per year) and Germany (+X% per year).

Import Prices by Country

The cocoa import price in Benin stood at $X per ton in 2018, jumping by X% against the previous year. Over the period under review, the cocoa import price, however, continues to indicate a drastic setback. The pace of growth appeared the most rapid in 2011 when the import price increased by X% against the previous year. Over the period under review, the import prices for cocoa (beans) attained their maximum at $X per ton in 2007; however, from 2008 to 2018, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2018, major importing countries recorded the following prices: in Turkey ($X per ton) and Germany ($X per ton), while Spain ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform