MERCOSUR: Cocoa Bean Market 2025

Cocoa Bean Market Size in MERCOSUR

The MERCOSUR cocoa bean market declined to $X in 2022, which is down by -9.4% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. 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 MERCOSUR

In value terms, cocoa bean production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 19%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Ecuador (X tons), Brazil (X tons) and Peru (X tons), together comprising 89% of total production.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +9.8%), while production for the other leaders experienced more modest paces of growth.

The average cocoa bean yield contracted modestly to X kg per ha in 2022, remaining stable against the previous year's figure. The yield figure increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. The level of yield peaked at X kg per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cocoa beans in MERCOSUR dropped to X ha, therefore, remained relatively stable against the previous year. The harvested area increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the harvested area increased by 5.9%. Over the period under review, the harvested area dedicated to cocoa bean production attained the peak figure at X ha in 2021, and then declined slightly in the following year.

Cocoa Bean Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of cocoa beans decreased by -2% to X tons in 2022. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +8.2% 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 +35.8% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by 24%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, cocoa bean exports declined slightly to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +21.2% against 2017 indices. The pace of growth was the most pronounced in 2014 when exports increased by 42%. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Ecuador was the largest exporter of cocoa beans in MERCOSUR, with the volume of exports reaching X tons, which was approx. 79% of total exports in 2022. It was distantly followed by Peru (X tons), mixing up a 14% share of total exports. Venezuela (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean exports from Ecuador stood at +8.3%. At the same time, Colombia (+13.4%), Venezuela (+9.0%) and Peru (+7.6%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +13.4% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest cocoa bean supplier in MERCOSUR, comprising 78% of total exports. The second position in the ranking was taken by Peru ($X), with a 14% share of total exports. It was followed by Venezuela, with a 4.6% share.

In Ecuador, cocoa bean exports increased at an average annual rate of +9.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+8.1% per year) and Venezuela (+4.6% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, approximately mirroring the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 21% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Venezuela ($X per ton) and Peru ($X per ton), while Ecuador ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Bean Imports

Imports in MERCOSUR

In 2022, cocoa bean imports in MERCOSUR declined dramatically to X tons, falling by -79.9% compared with 2021 figures. Overall, imports faced a deep downturn. The growth pace was the most rapid in 2016 with an increase of 258% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports reduced dramatically to $X in 2022. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by 290% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Brazil prevails in imports structure, resulting at X tons, which was near 94% of total imports in 2022. Argentina (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean imports into Brazil stood at -14.5%. Argentina experienced a relatively flat trend pattern. While the share of Argentina (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-1.7 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported cocoa beans in MERCOSUR, comprising 92% of total imports. The second position in the ranking was held by Argentina ($X), with a 5.2% share of total imports.

In Brazil, cocoa bean imports decreased by an average annual rate of -14.3% over the period from 2012-2022.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, waning by -7.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.9%).

Source: IndexBox Platform