Ecuador: Cocoa Bean Market 2025

Cocoa Bean Market Size in Ecuador

In 2022, the Ecuadorian cocoa bean market was finally on the rise to reach $X for the first time since 2012, thus ending a nine-year declining trend. Over the period under review, consumption recorded a precipitous decrease. Cocoa bean consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Ecuador

In value terms, cocoa bean production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 48% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of cocoa beans in Ecuador reached X kg per ha in 2022, approximately equating 2021 figures. The yield figure increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 15%. Over the period under review, the average cocoa bean yield reached the peak level at X kg per ha in 2014; however, from 2015 to 2022, the yield remained at a 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, the total area harvested in terms of cocoa beans production in Ecuador dropped modestly to X ha, therefore, remained relatively stable against 2021 figures. The harvested area increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the harvested area increased by 16% against the previous year. Over the period under review, the harvested area dedicated to cocoa bean production attained the maximum at X ha in 2021, and then declined in the following year.

Cocoa Bean Exports

Exports from Ecuador

After two years of growth, shipments abroad of cocoa beans decreased by -1% to X tons in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +121.7% against 2012 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The exports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, cocoa bean exports declined to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.9% against 2015 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Indonesia (X tons), the United States (X tons) and Malaysia (X tons) were the main destinations of cocoa bean exports from Ecuador, with a combined 35% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +23.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Indonesia ($X) and Malaysia ($X) were the largest markets for cocoa bean exported from Ecuador worldwide, together accounting for 34% of total exports.

Among the main countries of destination, Indonesia, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 22%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Canada ($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 Japan (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Ecuador

In 2022, imports of cocoa beans into Ecuador soared to X tons, with an increase of 257% on the previous year's figure. Over the period under review, imports posted a resilient increase. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports surged to $X in 2022. Overall, imports recorded a prominent increase. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cocoa bean to Ecuador, accounting for a 84% share of total imports. Moreover, cocoa bean imports from the United States exceeded the figures recorded by the second-largest supplier, the Dominican Republic (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +46.8%.

In value terms, the United States ($X) constituted the largest supplier of cocoa beans to Ecuador, comprising 81% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +44.4%.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, which is down by -10.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 52%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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