Saint Vincent and the Grenadines: Cocoa Market 2020

Cocoa Market Size in Saint Vincent and the Grenadines

The revenue of the cocoa market in Saint Vincent and the Grenadines amounted to $X in 2018, remaining stable against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. In that year, the cocoa market attained its peak level of $X. From 2017 to 2018, the growth of the cocoa market remained at a lower figure.

Cocoa Production in Saint Vincent and the Grenadines

In value terms, cocoa production totaled $X in 2018 estimated in export prices. Over the period under review, the total output indicated resilient growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cocoa production decreased by -X% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of X% year-to-year. In that year, cocoa production reached its peak level of $X. From 2017 to 2018, cocoa production growth failed to regain its momentum.

Average yield of cocoa (beans) in Saint Vincent and the Grenadines totaled X kg per ha in 2018, stabilizing at the previous year. Overall, the cocoa yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 when yield increased by X% against the previous year. The global cocoa yield peaked at X kg per ha in 2013; however, from 2014 to 2018, yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the cocoa harvested area in Saint Vincent and the Grenadines totaled X ha, picking up by X% against the previous year. Over the period under review, the cocoa harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. The global cocoa harvested area peaked in 2018 and is likely to continue its growth in the near future.

Cocoa Exports

Exports by Country

Cote d'Ivoire represented the key exporting country with an export of around X tons, which resulted at X% of total exports. Ghana (X tons) held the second position in the ranking, distantly followed by Cameroon (X tons), Ecuador (X tons) and Belgium (X tons). All these countries together held near X% share of total exports. The following exporters - the Netherlands (X tons), Malaysia (X tons) and Nigeria (X tons) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Malaysia, while the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa markets from Saint Vincent and the Grenadines were Cote d'Ivoire ($X), Ghana ($X) and Cameroon ($X), with a combined X% share of total exports. These countries were followed by Ecuador, Belgium, the Netherlands, Malaysia and Nigeria, which together accounted for a further X terms of the main exporting countries, Malaysia recorded the highest growth rate of exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the cocoa export price in Saint Vincent and the Grenadines amounted to $X per ton, leveling off at the previous year. Over the period under review, the cocoa export price continues to indicate a relatively flat trend pattern. Saint Vincent and the Grenadines export price peaked at $X per ton in 2015; however, from 2016 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the Netherlands ($X per ton), while Cameroon ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Ghana, while the other leaders experienced more modest paces of growth.

Cocoa Imports

Imports by Country

The Netherlands represented the key importer of cocoa (beans) in the world, with the volume of imports recording X tons, which was near X% of total imports in 2018. The U.S. (X tons) ranks second in terms of the total imports with a X% share, followed by Belgium (X%), Malaysia (X%), Germany (X%) and Indonesia (X%). The following importers - France (X tons), Spain (X tons), the UK (X tons), Italy (X tons), Turkey (X tons) and Singapore (X tons) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to cocoa imports into the Netherlands stood at +X%. At the same time, Indonesia (+X%), Belgium (+X%), Italy (+X%), Turkey (+X%), Spain (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Singapore, France and Germany experienced a relatively flat trend pattern. By contrast, Malaysia (-X%) and the UK (-X%) illustrated a downward trend over the same period. The Netherlands (+X p.p.), Indonesia (+X p.p.), Belgium (+X p.p.) and the U.S. (+X p.p.) significantly strengthened its position in terms of the global imports, while the UK and Malaysia saw its share reduced by -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported cocoa (beans) into Saint Vincent and the Grenadines, comprising X% of global imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

In the Netherlands, cocoa imports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Germany (+X% per year).

Import Prices by Country

The cocoa import price in Saint Vincent and the Grenadines stood at $X per ton in 2018, therefore, remained relatively stable against the previous year. Overall, the cocoa import price continues to indicate a relatively flat trend pattern. Over the period under review, the import prices for cocoa (beans) attained their maximum at $X per ton in 2007; however, from 2008 to 2018, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2018, major importing countries recorded the following prices: in Turkey ($X per ton) and Germany ($X per ton), while Spain ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform