U.S.: Cocoa Bean Market 2024

Cocoa Bean Market Size in the U.S.

After two years of growth, the U.S. cocoa bean market decreased by X% to $X in 2022. Overall, consumption recorded a mild slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Cocoa Bean Exports

Exports from the U.S.

In 2022, overseas shipments of cocoa beans decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a deep slump. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa bean exports dropped rapidly to $X in 2022. Overall, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for cocoa bean exports from the United States, with a X% share of total exports. Moreover, cocoa bean exports to Canada exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total exports with a X% share.

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

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

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

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Canada ($X per ton), while the average price for exports to Germany ($X per ton) and Ecuador ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Cocoa Bean Imports

Imports into the U.S.

After two years of growth, supplies from abroad of cocoa beans decreased by X% to X tons in 2022. Overall, imports saw a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports shrank sharply to $X in 2022. In general, imports continue to indicate a slight shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest cocoa bean supplier to the United States, 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. The third position in this ranking was taken by Ghana (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume 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).

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

From 2012 to 2022, the average annual growth rate 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

The average cocoa bean import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Dominican Republic ($X per ton) and Democratic Republic of the Congo ($X per ton), while the price for Papua New Guinea ($X per ton) and Ecuador ($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 mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :