Cocoa beans market in India

Earlier Report Observations

Cocoa bean production in India increased steadily from 20 000 tonnes in 2018 to 30 000 tonnes in 2023. This growth was supported by the strengthening of the domestic supply chain, including the establishment of village-level processing units and improved drying and fermenting capacity, which enhanced local processing capabilities. Simultaneously, rising demand for chocolate, particularly premium and dark chocolate, stimulated the need for more cocoa beans.

The market volume for cocoa beans showed more volatile trends, declining in 2019 and 2020 before surging to 62 101 tonnes in 2022, largely due to increased imports. Global cocoa shortages from climate-related issues and diseases in West Africa led to supply fluctuations, while a 30% import duty helped shield the domestic market. By 2023, market volume contracted to 50 588 tonnes as cocoa prices rose to their highest levels in 45 years, prompting companies to raise chocolate prices and potentially dampening consumption.

Throughout the period, the Indian chocolate market evolved with the emergence of new segments such as bean-to-bar chocolate, and a shift in consumer preferences towards healthier, premium, and sustainable products. These trends underpinned underlying demand for cocoa beans, even amid price pressures and global supply constraints.

Production cocoa beans in India

In kind, 2017-2020, t

From 2017 to 2020, India ranked as the 16th largest producer of cocoa beans globally.

Top producers of cocoa beans, 2017-2020

World map of production of cocoa beans, 2017-2020

Cocoa bean production in India grew for the third consecutive year. In 2020, the country produced 26 000 tonnes, marking a gradual increase of 8.3% compared to the previous year. Over the period from 2017 to 2020, production rose by 36.8%, which translates to an annualized growth rate of 11.0%.

Annual dynamics of production in India in kind, 2017-2020, t

Exports cocoa beans from India

Exports in kind, t

Following a two-year decline, cocoa bean exports from India rebounded. In 2020, exports reached 87 tonnes, showing a significant surge of 42.8% from the year before. Between 2017 and 2020, exports decreased by 7.5%, averaging an annualized decline of 2.6%. The lowest point was in 2019, with 61 tonnes, and the sharpest drop occurred that same year at 26.3%.

Annual dynamics of product's exports from India in kind, 2017-2020, t

From 2017 to 2020, Indonesia (21.6% of exports by volume), the Netherlands (21.4%), and Belgium (15.3%) were the top destinations for India's cocoa bean exports, collectively accounting for 58.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from India in kind, 2017-2020

Exports in value, K $ US

After a two-year downturn, cocoa bean shipments from India to international markets increased. In 2020, exports were valued at 430 000 US dollars, reflecting a sharp rise of 34.4% compared to the previous year. Over the 2017–2020 period, exports grew by 19%, with an annualized rate of 6.0%. The lowest value was recorded in 2019 at 320 000 US dollars, and the largest decline occurred in 2018 at 9.5%.

Annual dynamics of product's exports from India in value, 2017-2020, K $ US

Between 2017 and 2020, the Netherlands (21.4% of exports by value), Belgium (18.2%), and the United States (15.5%) were the primary buyers of cocoa beans from India, together making up 55.1% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from India in value, 2017-2020

Imports cocoa beans to India

Imports in kind, t

Cocoa bean imports into India fell for the second year in a row. In 2020, imports totaled 22 993 tonnes, a decrease of 14.5% from 2019. From 2017 to 2020, imports declined by 5.8%, averaging an annualized drop of 2.0%. The peak was in 2018 at 34 445 tonnes, with the largest decline in 2019 at 21.9% and the biggest increase in 2018 at 41.1%.

Annual dynamics of product's imports to India in kind, 2017-2020, t

Throughout 2017–2020, Ecuador (24.6% of imports by volume), Uganda (16.9%), and the Democratic Republic of the Congo (15.0%) were the key sources for India's cocoa bean imports, jointly representing 56.5% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to India in kind, 2017-2020

Imports in value, K $ US

The value of cocoa bean imports into India dropped for the second consecutive year. In 2020, imports amounted to 60 369 000 US dollars, down by 6.6% year-on-year. Over the 2017–2020 span, imports increased by 5.1%, with an annualized growth rate of 1.7%. The highest value was in 2018 at 77 855 000 US dollars, the largest decline was in 2019 at 17.0%, and the largest increase occurred in 2018 at 35.5%.

Annual dynamics of product's imports to India in value, 2017-2020, K $ US

From 2017 to 2020, Ecuador (25.0% of imports by value), Uganda (16.7%), and the Democratic Republic of the Congo (15.0%) formed the core group of partners for India's cocoa bean imports, together accounting for 56.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to India in value, 2017-2020