Indonesia: Cocoa Bean Market 2024

Cocoa Bean Market Size in Indonesia

The Indonesian cocoa bean market fell slightly to $X in 2022, shrinking by X% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; afterwards, it flattened through to 2022.

Cocoa Bean Production in Indonesia

In value terms, cocoa bean production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average cocoa bean yield in Indonesia declined modestly to X kg per ha, approximately mirroring the previous year. The yield figure increased at an average annual rate of X% 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 2018 when the yield increased by X%. The cocoa bean yield peaked at X kg per ha in 2021, and then dropped in the following year. 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 Indonesia; approximately mirroring the year before. Over the period under review, the harvested area, however, recorded a noticeable decrease. Over the period under review, the harvested area dedicated to cocoa bean production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

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Cocoa Bean Exports

Exports from Indonesia

In 2022, after two years of decline, there was significant growth in shipments abroad of cocoa beans, when their volume increased by X% to X tons. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa bean exports rose notably to $X in 2022. In general, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for cocoa bean exports from Indonesia, accounting for a X% share of total exports. It was followed by the Philippines (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for cocoa beans exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price showed a modest expansion. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Malaysia ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Indonesia

In 2022, approx. X tons of cocoa beans were imported into Indonesia; reducing by X% against the year before. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports dropped to $X in 2022. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Ecuador (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons) were the main suppliers of cocoa bean imports to Indonesia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the largest cocoa bean suppliers to Indonesia, together comprising X% of total imports.

Among the main suppliers, Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price saw a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Ghana ($X per ton), while the price for Liberia ($X per ton) and Nigeria ($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 (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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