Cocoa beans market in the Philippines

Earlier Report Observations

From 2018 to 2020, the Philippine cocoa bean market volume declined from 5 520 t to 4 363 t. In 2018, the industry faced production constraints that limited local supply and increased reliance on imports, despite the country's competitive advantages. During this period, the Department of Agriculture released the Philippine Cacao Industry Roadmap, while the DTI and BOI implemented policies to support the cocoa-chocolate value chain, laying groundwork for future development.

A strong expansion followed from 2021 onward, with market volume reaching 8 700 t by 2023. This growth was primarily driven by shifting consumer preferences, particularly among millennials, toward value-added products like tablea and single-origin chocolates. The rising market potential for these premium goods boosted demand for quality cocoa beans. Furthermore, an industry emphasis on sustainable production practices enabled farmers to command better prices, supporting market enlargement.

In 2024, the sector confronted significant supply-side challenges. The cocoa swollen shoot virus disease affected Philippine cocoa trees, reducing yields and requiring replanting. Concurrently, global supply shortages from West Africa drove cocoa prices to record highs, increasing costs for chocolate makers and prompting some recipe reformulation. Amid these pressures, the DTI actively promoted Philippine cocoa beans in export markets such as Japan to enhance international access.

Production cocoa beans in the Philippines

In kind, 2017-2020, t

From 2017 to 2020, the Philippines was among the world's leading cocoa bean producers, ranking 24th globally by production volume.

Top producers of cocoa beans, 2017-2020

World map of production of cocoa beans, 2017-2020

Cocoa bean production in the Philippines grew for the third consecutive year. In 2020, the country produced 9 341 tons of cocoa beans, marking a 10.0% increase from the previous year. Over the 2017-2020 period, production rose by 33.3%, with an average annual growth rate of 10.0%.

Annual dynamics of production in the Philippines in kind, 2017-2020, t

In value, 2017-2020, K $ US

The value of cocoa bean production in the Philippines increased for the third year in a row. In 2020, output was valued at 24 756 thousand US dollars, representing a significant 13.1% rise compared to 2019. From 2017 to 2020, production value grew by 44.9%, with an average annual growth rate of 13.2%.

Annual dynamics of production in the Philippines in value, 2017-2020, K $ US

Exports cocoa beans from the Philippines

Exports in kind, t

After a two-year decline, cocoa bean exports from the Philippines rebounded. In 2020, exports reached 5 153 tons, up 69.0% from the previous year. Over the 2017-2020 period, exports increased by 49.9%, with an average annual growth rate of 14.5%. The lowest volume was recorded in 2019 at 3 049 tons, while the largest decline occurred in 2018 at 10.7%.

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

From 2017 to 2020, Malaysia was the dominant partner for cocoa bean exports in volume terms, accounting for 79.0% of total flows. Other markets played a less significant role during this period.

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

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

Exports in value, K $ US

Cocoa bean export values showed notable fluctuations from 2017 to 2020. Exports reached their lowest point in 2018 at 7 643 thousand US dollars and peaked in 2020 at 13 657 thousand US dollars, representing a 1.8-fold difference. In 2020, export value increased by 73.8% compared to 2019. The largest decline was recorded in 2018 at 8.8%.

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

Between 2017 and 2020, cocoa bean exports in value terms were heavily concentrated on Malaysia, which accounted for 77.4% of total flows. Other countries together made up the remaining share.

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

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

Imports cocoa beans to the Philippines

Imports in kind, t

In 2020, the Philippines imported 175 tons of cocoa beans, down 12.5% from the previous year. Over the 2017-2020 period, imports decreased by 74.7%, with an average annual decline of 36.7%.

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

From 2017 to 2020, Ghana, Ecuador, and Malaysia were the main sources for cocoa bean imports in volume terms. Ghana accounted for 35.6% of imports, Ecuador for 23.9%, and Malaysia for 23.8%, together representing 83.4% of total flows.

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

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

Imports in value, K $ US

In 2020, the Philippines imported approximately 422 thousand US dollars worth of cocoa beans, a 6.2% decrease year-over-year. Between 2017 and 2020, import value fell by 75.1%, equating to an average annual decline of 37.1%.

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

Throughout 2017-2020, Ghana, Malaysia, and Ecuador remained the key partners for cocoa bean imports in value terms. Ghana accounted for 36.0% of imports, Malaysia for 26.8%, and Ecuador for 20.0%, together making up 82.8% of total flows.

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

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