South-Eastern Asia: Cocoa Bean Market 2024

Cocoa Bean Market Size in South-Eastern Asia

The Southeast Asian cocoa bean market reduced slightly to $X in 2023, remaining stable against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Cocoa Bean Production in South-Eastern Asia

In value terms, cocoa bean production dropped modestly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

The country with the largest volume of cocoa bean production was Indonesia (X tons), comprising approx. X% of total volume.

In Indonesia, cocoa bean production remained relatively stable over the period from 2012-2023.

The average cocoa bean yield amounted to X tons per ha in 2023, approximately equating the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2023, 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.

The cocoa bean harvested area reached X ha in 2023, therefore, remained relatively stable against the previous year. In general, the harvested area, however, showed a noticeable setback. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area failed to regain momentum.

Cocoa Bean Exports

Exports in South-Eastern Asia

After two years of growth, shipments abroad of cocoa beans decreased by X% to X tons in 2023. Over the period under review, exports recorded a perceptible contraction. The growth pace was the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports dropped to $X in 2023. In general, exports continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Malaysia represented the main exporter of cocoa beans in South-Eastern Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Indonesia (X tons), creating an X% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to cocoa bean exports from Malaysia stood at X%. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest cocoa bean supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports.

In Malaysia, cocoa bean exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, increasing by X% against the previous year. Overall, 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 X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Bean Imports

Imports in South-Eastern Asia

In 2023, imports of cocoa beans in South-Eastern Asia rose sharply to X tons, growing by X% compared with 2022 figures. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, cocoa bean imports soared to $X in 2023. Total imports indicated strong growth from 2012 to 2023: 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 2023 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

Imports by Country

Malaysia was the major importing country with an import of around X tons, which finished at X% of total imports. Indonesia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%).

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, Indonesia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. From 2012 to 2023, the share of Indonesia increased by X percentage points.

In value terms, Malaysia ($X) constitutes the largest market for imported cocoa beans in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Malaysia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform