Switzerland: Cocoa Bean Market 2024

Cocoa Bean Market Size in Switzerland

In 2022, the Swiss cocoa bean market decreased by -3.2% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Cocoa Bean Exports

Exports from Switzerland

In 2022, shipments abroad of cocoa beans increased by 17% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 93% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa bean exports rose slightly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 38% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for cocoa bean exports from Switzerland, with a 77% share of total exports. Moreover, cocoa bean exports to France exceeded the volume sent to the second major destination, Germany (X tons), eightfold. The third position in this ranking was taken by the United States (X tons), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-11.9% per year) and the United States (+4.2% per year).

In value terms, France ($X) remains the key foreign market for cocoa beans exports from Switzerland, comprising 70% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.3% per year) and the United States (+2.5% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, falling by -11.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 an increase of 23%. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 Germany (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Switzerland

In 2022, the amount of cocoa beans imported into Switzerland stood at X tons, increasing by 4.9% on 2021. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, cocoa bean imports fell to $X in 2022. The total import value increased at an average annual rate of +1.5% 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 2021 with an increase of 23%. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

In 2022, Ghana (X tons) constituted the largest supplier of cocoa bean to Switzerland, accounting for a 49% share of total imports. Moreover, cocoa bean imports from Ghana exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), threefold. The third position in this ranking was held by the Dominican Republic (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Ghana totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+1.0% per year) and the Dominican Republic (+65.0% per year).

In value terms, Ghana ($X) constituted the largest supplier of cocoa beans to Switzerland, comprising 47% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 19% share of total imports. It was followed by the Dominican Republic, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Ghana was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-1.1% per year) and the Dominican Republic (+61.7% per year).

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, with a decrease of -8.7% against the previous year. Overall, the import price saw a mild descent. The growth pace was the most rapid in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 highest price was recorded for prices from Peru ($X per ton) and the Dominican Republic ($X per ton), while the price for Madagascar ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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