Venezuela: Cocoa Bean Market 2025

Cocoa Bean Market Size in Venezuela

The Venezuelan cocoa bean market surged to $X in 2022, increasing by 44% against the previous year. In general, consumption, however, saw a abrupt setback. Cocoa bean consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Venezuela

In value terms, cocoa bean production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The growth pace was the most rapid in 2015 when the production volume increased by 14%. Cocoa bean production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average cocoa bean yield in Venezuela totaled X kg per ha, remaining stable against 2021. In general, the yield, however, showed a pronounced setback. The growth pace was the most rapid in 2019 with an increase of 5.9% against the previous year. Over the period under review, the average cocoa bean yield hit record highs at X kg per ha in 2012; however, from 2013 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, approx. X ha of cocoa beans were harvested in Venezuela; flattening at 2021 figures. The harvested area 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 when the harvested area increased by 7.9%. Over the period under review, the harvested area dedicated to cocoa bean production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Cocoa Bean Exports

Exports from Venezuela

In 2022, cocoa bean exports from Venezuela reduced to X tons, with a decrease of -13.9% compared with the previous year's figure. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by 94% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa bean exports dropped to $X in 2022. Over the period under review, exports, however, continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2019 with an increase of 99%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and the United States (X tons) were the main destinations of cocoa bean exports from Venezuela, together accounting for 42% of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +36.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa bean exported from Venezuela were Indonesia ($X), Malaysia ($X) and Japan ($X), with a combined 40% share of total exports. The United States, Estonia, France, the Netherlands, Switzerland and Germany lagged somewhat behind, together accounting for a further 22%.

Estonia, with a CAGR of +41.6%, recorded the highest growth rate of 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

In 2022, the average cocoa bean export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 8% against the previous year. Over the period under review, the average export prices attained the peak figure 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United States ($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 Estonia (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Bean Imports

Imports into Venezuela

In 2020, approx. X kg of cocoa beans were imported into Venezuela; remaining constant against the previous year's figure. Overall, imports faced a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of 280% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2020, imports failed to regain momentum.

In value terms, cocoa bean imports stood at $X in 2020. In general, imports recorded a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 519%. As a result, imports reached the peak of $X. From 2015 to 2020, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2020, Spain (X kg) constituted the largest cocoa bean supplier to Venezuela, with a approx. 50% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of volume from Spain was relatively modest.

In value terms, Spain ($X) constituted the largest supplier of cocoa beans to Venezuela.

From 2012 to 2020, the average annual rate of growth in terms of value from Spain was relatively modest.

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2020, standing approx. at the previous year. Over the period under review, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 169%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2020, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2020, the rate of growth in terms of prices for the United States amounted to +62.8% per year.

Source: IndexBox Platform

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