Hong Kong SAR, China: Cocoa Bean Market 2025

Cocoa Bean Market Size in Hong Kong SAR, China

In 2022, the Hong Kong cocoa bean market increased by 273% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cocoa Bean Production in Hong Kong SAR, China

In value terms, cocoa bean production contracted to $X in 2022 estimated in export price. In general, production showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 6.5% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of cocoa beans in Hong Kong SAR amounted to less than X kg per ha in 2022, approximately mirroring 2021 figures. Over the period under review, the 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 2022, approx. less than X ha of cocoa beans were harvested in Hong Kong SAR; leveling off at the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Cocoa Bean Exports

Exports from Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in overseas shipments of cocoa beans, when their volume decreased by -39.3% to X tons. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2019 with an increase of 315% against the previous year. The exports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, cocoa bean exports reduced remarkably to $X in 2022. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 189%. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Singapore (X tons) was the main destination for cocoa bean exports from Hong Kong SAR, accounting for a 95% share of total exports. Moreover, cocoa bean exports to Singapore exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at +150.3%.

In value terms, Singapore ($X) remains the key foreign market for cocoa beans exports from Hong Kong SAR, comprising 90% of total exports. The second position in the ranking was held by France ($X), with a 9.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +196.2%.

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, increasing by 11% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by 255%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 France ($X per ton), while the average price for exports to Singapore amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of cocoa beans increased by 144% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 1,026%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa bean imports soared to $X in 2022. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 743% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of cocoa bean to Hong Kong SAR, accounting for a 79% share of total imports. Moreover, cocoa bean imports from Ecuador exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The United States (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from Ecuador amounted to +130.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.3% per year) and the United States (+83.1% per year).

In value terms, Ecuador ($X) constituted the largest supplier of cocoa beans to Hong Kong SAR, comprising 65% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by the United States, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Ecuador stood at +121.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+57.9% per year) and the United States (+48.6% per year).

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, with a decrease of -7.3% against the previous year. Over the period under review, the import price recorded a perceptible downturn. The pace of growth appeared the most rapid in 2019 when the average import price increased by 46%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 China ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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