Malaysia: Cocoa Bean Market 2024

Cocoa Bean Market Size in Malaysia

In 2022, the Malaysian cocoa bean market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, showed a mild expansion. Cocoa bean consumption peaked at $X in 2021, and then fell in the following year.

Cocoa Bean Production in Malaysia

In value terms, cocoa bean production contracted to $X in 2022 estimated in export price. Overall, production, however, recorded a deep slump. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of cocoa beans in Malaysia skyrocketed to X kg per ha, rising by X% compared with 2021. Overall, the yield, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The cocoa bean yield peaked 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, the cocoa bean harvested area in Malaysia declined to X ha, reducing by X% against the previous year. Over the period under review, the harvested area saw a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The cocoa bean harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

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Cocoa Bean Exports

Exports from Malaysia

In 2022, shipments abroad of cocoa beans increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate resilient growth. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cocoa bean exports shrank to $X in 2022. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for cocoa bean exports from Malaysia, accounting for a X% share of total exports. Moreover, cocoa bean exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), eightfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

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

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

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

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price saw a slight downturn. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and South Korea ($X per ton), while the average price for exports to Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

Cocoa Bean Imports

Imports into Malaysia

In 2022, overseas purchases of cocoa beans decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume 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, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, cocoa bean imports declined to $X in 2022. Overall, total imports indicated a temperate increase 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, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest cocoa bean supplier to Malaysia, accounting for a X% share of total imports. Moreover, cocoa bean imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold. Ghana (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Ghana (X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa beans to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Ecuador ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Cote d'Ivoire amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price showed a mild slump. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Ghana ($X per ton) and Indonesia ($X per ton), while the price for Nigeria ($X per ton) and Cameroon ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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