India: Cocoa Bean Market 2025

Cocoa Bean Market Size in India

In 2022, the Indian cocoa bean market increased by 24% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption showed a prominent increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Cocoa Bean Production in India

In value terms, cocoa bean production stood at $X in 2022 estimated in export price. In general, production, however, showed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 60%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of cocoa beans in India reached X kg per ha in 2022, flattening at the year before. The yield figure increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. Over the period under review, the average cocoa bean yield reached the peak level at X kg per ha in 2020; however, from 2021 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 India reduced modestly to X ha, waning by -2.4% compared with 2021. Over the period under review, the total harvested area indicated a moderate increase from 2012 to 2022: its figure increased at an average annual rate of +4.8% 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 +59.5% against 2012 indices. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 9.9% against the previous year. The cocoa bean harvested area peaked at X ha in 2021, and then contracted in the following year.

Cocoa Bean Exports

Exports from India

In 2022, after two years of growth, there was significant decline in overseas shipments of cocoa beans, when their volume decreased by -53.1% to X tons. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2015 with an increase of 5,095%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa bean exports contracted sharply to $X in 2022. In general, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 5,327% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for cocoa bean exports from India, accounting for a 43% share of total exports. Moreover, cocoa bean exports to Indonesia exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia stood at -41.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+47.1% per year) and Belgium (+102.4% per year).

In value terms, the United States ($X), Belgium ($X) and Japan ($X) constituted the largest markets for cocoa bean exported from India worldwide, with a combined 75% share of total exports.

Belgium, with a CAGR of +118.2%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average cocoa bean export price stood at $X per ton in 2022, falling by -23.5% against the previous year. In general, the export price, however, recorded measured growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 51% against the previous year. The export price peaked at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Indonesia ($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 Singapore (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into India

In 2022, overseas purchases of cocoa beans were finally on the rise to reach X tons after three years of decline. Over the period under review, imports posted a noticeable increase. The pace of growth was the most pronounced in 2014 when imports increased by 130% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports skyrocketed to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 179%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Democratic Republic of the Congo (X tons), Uganda (X tons) and the Dominican Republic (X tons) were the main suppliers of cocoa bean imports to India, with a combined 81% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Democratic Republic of the Congo (with a CAGR of +46.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa bean suppliers to India were Democratic Republic of the Congo ($X), Uganda ($X) and the Dominican Republic ($X), with a combined 81% share of total imports.

Democratic Republic of the Congo, with a CAGR of +40.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, reducing by -1.9% against the previous year. In general, the import price saw a slight reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 21%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Dominican Republic ($X per ton) and Ghana ($X per ton), while the price for Democratic Republic of the Congo ($X per ton) and Uganda ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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