Belgium: Cocoa Bean Market 2024

Cocoa Bean Market Size in Belgium

The Belgian cocoa bean market dropped sharply to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a slight downturn. As a result, consumption reached the peak level of $X, and then contracted markedly in the following year.

Cocoa Bean Exports

Exports from Belgium

In 2022, the amount of cocoa beans exported from Belgium soared to X tons, increasing by X% on the year before. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, cocoa bean exports expanded notably to $X in 2022. In general, exports saw a prominent increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for cocoa bean exports from Belgium, accounting for a X% share of total exports. Moreover, cocoa bean exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Austria (X tons), with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Austria (X% per year).

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. The export price peaked 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 external markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and France ($X per ton), while the average price for exports to Canada ($X per ton) and Germany ($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 Austria (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Cocoa Bean Imports

Imports into Belgium

In 2022, overseas purchases of cocoa beans decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then declined slightly in the following year.

In value terms, cocoa bean imports contracted to $X in 2022. In general, imports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of cocoa bean to Belgium, 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, Ghana (X tons), threefold. Nigeria (X tons) ranked third in terms of total imports with a X% share.

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

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

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

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 growth pace was the most rapid in 2014 an increase of X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Dominican Republic ($X per ton) and France ($X per ton), while the price for Nigeria ($X per ton) and Togo ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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