Cocoa beans market in Brazil

Earlier Report Observations

From 2018 to 2021, Brazil's cocoa beans production grew steadily, reaching 302.1 thousand tons, driven by the government's policy to achieve self-sufficiency by 2025 and sustained investments in farm productivity, technical assistance, and new growing areas. The installed grinding capacity of 275 thousand tons per year, which exceeded domestic output, was supported by the 'drawback' regime allowing tax-free imports of beans for re-export as processed products, ensuring industry competitiveness and keeping factories at full operation.

In 2022, market volume fell to 311.8 thousand tons as imports plunged to their lowest level in five years, a shift toward greater use of domestic beans from states like Bahia and Pará. The following year, market volume recovered to 338.9 thousand tons despite a slight dip in production, as bean receipts rose 7% and grinding activity jumped 12%, though record-high international prices—up 21.4% on ICE futures—reflected tighter global supply from the 2022/23 harvest.

By 2024, bean receipts dropped 18.5% and grinding fell 9.5% as dry weather and the spread of witch's broom disease in Bahia constrained supply, while record prices near US$10,000 per ton squeezed processors' margins. Regulatory changes affecting import rules led to forecasts of idle grinding capacity near 30%, with only about 195 thousand tons of the 275 thousand tons capacity expected to be used in 2025 amid lower imports and domestic demand.

Production cocoa beans in Brazil

In kind, 2018-2021, K t

Brazil ranked 7th globally in cocoa bean production from 2018 to 2021.

Top producers of cocoa beans, 2018-2021

World map of production of cocoa beans, 2018-2021

Cocoa bean production in Brazil rose for the third consecutive year. In 2021, the country produced 302.1 thousand tonnes, marking a 12.0% increase from 2020. Over the period from 2018 to 2021, production grew by 26.2%, which translates to an annualized rate of 8.1%.

Annual dynamics of production in Brazil in kind, 2018-2021, K t

In value, 2018-2021, M $ US

Brazil's cocoa bean production value increased for the second year in a row. In 2021, the output was valued at 1 198 million US dollars, up 14.6% from the previous year. From 2018 to 2021, production value rose by 16.3%, equivalent to an annualized rate of 5.2%. The lowest value was recorded in 2019 at 984 million US dollars, with the largest decline that year of 4.5%.

Annual dynamics of production in Brazil in value, 2018-2021, M $ US

Exports cocoa beans from Brazil

Exports in kind, t

In 2021, Brazil's cocoa bean exports totaled 567 tonnes, a significant drop of 10.4% compared to 2020. Between 2018 and 2021, exports fell by 8%, averaging an annual decline of 2.7%. The lowest export volume was in 2019 at 491 tonnes, while the peak was in 2020 at 633 tonnes. The sharpest decrease occurred in 2019 with a 20.3% fall, and the largest increase was in 2020 with a 28.9% rise.

Annual dynamics of product's exports from Brazil in kind, 2018-2021, t

From 2018 to 2021, Japan, France, and the Netherlands were the top destinations for Brazil's cocoa bean exports in volume terms. Together, they accounted for 87.5% of total exports, with Japan at 65.8%, France at 12.7%, and the Netherlands at 9.0%.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Brazil in kind, 2018-2021

Exports in value, M $ US

In 2021, Brazil's cocoa bean export value reached 2.2 million US dollars, down 8.3% from 2020. Over the 2018-2021 period, exports decreased by 15.2%, with a compound annual growth rate of -5.4%. The lowest value was in 2019 at 1.9 million US dollars, and the largest decline that year was 29.8%. The biggest increase was in 2020, with a 31.7% jump.

Annual dynamics of product's exports from Brazil in value, 2018-2021, M $ US

Between 2018 and 2021, Japan, France, and the Netherlands were the primary markets for Brazil's cocoa bean exports in value terms, collectively absorbing 83.8% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Brazil in value, 2018-2021

Imports cocoa beans to Brazil

Imports in kind, t

After a two-year decline, Brazil's cocoa bean imports rebounded in 2021, totaling 59 824 tonnes, a 28.7% increase from the previous year. From 2018 to 2021, imports decreased by 4.2%, averaging an annual drop of 1.4%. The lowest import volume was in 2020 at 46 488 tonnes, with the largest decline that year of 17.1%.

Annual dynamics of product's imports to Brazil in kind, 2018-2021, t

Throughout 2018 to 2021, Ghana and Côte d'Ivoire were the main sources for Brazil's cocoa bean imports in volume, together accounting for 100.0% of total imports.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Brazil in kind, 2018-2021

Imports in value, M $ US

Following a two-year decrease, Brazil's cocoa bean import value rose in 2021, reaching 168.8 million US dollars, a 36.3% uptick from 2020. Between 2018 and 2021, imports increased by 14.5%, with an annualized rate of 4.6%. The lowest value was in 2020 at 123.8 million US dollars, and the largest decline that year was 8.8%.

Annual dynamics of product's imports to Brazil in value, 2018-2021, M $ US

From 2018 to 2021, Ghana and Côte d'Ivoire dominated Brazil's cocoa bean imports in value terms, jointly representing 100.0% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Brazil in value, 2018-2021