Colombia: Cocoa Bean Market 2025

Cocoa Bean Market Size in Colombia

The Colombian cocoa bean market fell to $X in 2022, with a decrease of -8.2% against the previous year. In general, consumption, however, posted a noticeable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Colombia

In value terms, cocoa bean production declined to $X in 2022 estimated in export price. In general, production, however, posted a moderate increase. The growth pace was the most rapid in 2017 when the production volume increased by 81% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

In 2022, the average cocoa bean yield in Colombia stood at X kg per ha, approximately mirroring the previous year's figure. Overall, the yield saw pronounced growth. The pace of growth appeared the most rapid in 2017 with an increase of 113% against the previous year. The cocoa bean yield peaked at X kg per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat 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, approx. X ha of cocoa beans were harvested in Colombia; which is down by -1.6% compared with the previous year. Overall, the total harvested area indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa bean harvested area increased by +83.8% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 60% against the previous year. The cocoa bean harvested area peaked at X ha in 2021, and then declined slightly in the following year.

Cocoa Bean Exports

Exports from Colombia

In 2022, after three years of growth, there was decline in overseas shipments of cocoa beans, when their volume decreased by -3.4% to X tons. Over the period under review, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 140% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports fell modestly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 100%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for cocoa bean exports from Colombia, accounting for a 67% share of total exports. Moreover, cocoa bean exports to Mexico exceeded the volume sent to the second major destination, Belgium (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico amounted to +55.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+46.9% per year) and Malaysia (-1.6% per year).

In value terms, Mexico ($X) remains the key foreign market for cocoa beans exports from Colombia, comprising 62% of total exports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total exports. It was followed by Malaysia, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico totaled +52.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+45.8% per year) and Malaysia (-2.5% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, approximately equating the previous year. In general, the export price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2014 an increase of 28% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and the United States ($X per ton), while the average price for exports to Malaysia ($X per ton) and Mexico ($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 Turkey (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Colombia

After seven years of decline, supplies from abroad of cocoa beans increased by 29% to X tons in 2022. In general, imports, however, faced a significant decline. The pace of growth was the most pronounced in 2014 when imports increased by 214%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa bean imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a significant decrease. The pace of growth was the most pronounced in 2014 with an increase of 260% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Peru (X tons) was the main cocoa bean supplier to Colombia, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Peru totaled -9.6%.

In value terms, Peru ($X) constituted the largest supplier of cocoa beans to Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru amounted to -7.2%.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, picking up by 4.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2012 to 2022, the rate of growth in terms of prices for Venezuela amounted to +9.1% per year.

Source: IndexBox Platform

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