China: Cocoa Bean Market 2025

Cocoa Bean Market Size in China

The Chinese cocoa bean market fell notably to $X in 2022, declining by -48.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Cocoa Bean Exports

Exports from China

In 2022, the amount of cocoa beans exported from China dropped to X tons, waning by -9.1% compared with 2021 figures. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 1,410%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports reduced to $X in 2022. Overall, exports faced a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 1,023%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X tons) was the main destination for cocoa bean exports from China, accounting for a 77% share of total exports. Moreover, cocoa bean exports to Serbia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Serbia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+21.7% per year) and Italy (+142.6% per year).

In value terms, the largest markets for cocoa bean exported from China were Serbia ($X), Italy ($X) and Hong Kong SAR ($X), together accounting for 66% of total exports.

Italy, with a CAGR of +131.1%, recorded the highest growth rate of the value of exports, among 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, increasing by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 27%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Serbia ($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 Belgium (-2.4%), while the prices for the other major destinations experienced a decline.

Cocoa Bean Imports

Imports into China

In 2022, overseas purchases of cocoa beans decreased by -46% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports recorded a abrupt slump. The growth pace was the most rapid in 2013 when imports increased by 45% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa bean imports dropped sharply to $X in 2022. In general, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 31%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest cocoa bean supplier to China, accounting for a 51% share of total imports. Moreover, cocoa bean imports from Ecuador exceeded the figures recorded by the second-largest supplier, Togo (X tons), twofold. Ghana (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Ecuador amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (+2.1% per year) and Ghana (-21.2% per year).

In value terms, Ecuador ($X), Togo ($X) and Ghana ($X) appeared to be the largest cocoa bean suppliers to China, together comprising 92% of total imports.

Togo, with a CAGR of +1.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, reducing by -5.9% against the previous year. In general, the import price showed a slight curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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