Cocoa powder and cake market in Colombia

Earlier Report Observations

The Colombian cocoa powder and cake market saw its volume rise from 39 048 t in 2018 to 41 039 t in 2019, aided by the sector's emphasis on fine aroma cocoa quality and a period of lower international bean prices that reduced input costs. A sharp contraction followed in 2020, with market volume dropping to 24 079 t.

Market volume stabilized near 24 000 t in 2021 after the ratification of the International Cocoa Agreement strengthened Colombia's formal trade ties. Growth resumed in 2022, reaching 24 624 t, driven by the entry of roughly 200 new processing enterprises and the substitution of over 47 000 hectares of land for cocoa cultivation, which increased domestic supply. In 2023, the focus shifted toward higher-value local processing, which pushed the market's value to 83.5 million $ despite a slight volume dip to 24 023 t.

Production cocoa powder and cake in Colombia

In kind, 2017-2020, t

Between 2017 and 2020, Colombia ranked as the 16th largest producer of cocoa powder and cake globally.

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Colombia's production of cocoa powder and cake saw a two-year increase before declining. In 2020, the country produced 20 664 tonnes, which represents a significant 44.8% drop compared to 2019. Over the 2017-2020 period, production fell by 37.4%, translating to an annualized decline of 14.4%. The peak was reached in 2019 with 37 443 tonnes, while the largest year-on-year increase occurred in 2018 at 9.0%.

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

In value, 2017-2020, M $ US

Colombia's cocoa powder and cake production value declined for the second year in a row. In 2020, output was valued at 54.4 million US dollars, showing a sharp 38.5% decrease from 2019. From 2017 to 2020, production value dropped by 48.8%, with a compound annual growth rate of -20.0%. The highest value was recorded in 2018 at 109.7 million US dollars, which also saw the largest increase of 3.2%.

Annual dynamics of production in Colombia in value, 2017-2020, M $ US

Exports cocoa powder and cake from Colombia

Exports in kind, t

Colombia's exports of cocoa powder and cake in volume terms grew for the second consecutive year. In 2020, the country exported 1 373 tonnes, reflecting a modest 3.6% rise compared to the previous year. Over the 2017-2020 period, exports increased by 35.7%, with a compound annual growth rate of 10.7%. The lowest volume was in 2018 at 940 tonnes, which also experienced the largest decline of 7.2%. The most significant increase occurred in 2019, with a jump of 41.1%.

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

From 2017 to 2020, the main markets for Colombia's cocoa powder and cake exports in volume terms were Costa Rica, accounting for 24.0% of exports, the United States at 20.6%, and Mexico with 11.4%. Together, these three countries represented 56.0% of total export flows.

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

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

Exports in value, K $ US

Colombia's cocoa powder and cake exports in value terms increased for the second year running. In 2020, exports totaled 3 615 thousand US dollars, marking a 15.4% rise over the previous year. Between 2017 and 2020, export value grew by 10.9%, equivalent to an annualized rate of 3.5%. The lowest value was recorded in 2018 at 2 866 thousand US dollars, which also saw the largest decline of 12.1%.

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

During 2017-2020, the leading destinations for Colombia's cocoa powder and cake exports in value terms were the United States, with 39.5% of exports, Costa Rica at 13.3%, and Trinidad and Tobago accounting for 8.3%. Collectively, these three markets made up 61.1% of total export value.

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

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

Imports cocoa powder and cake to Colombia

Imports in kind, t

After two years of growth, Colombia's imports of cocoa powder and cake in volume terms declined. In 2020, imports amounted to 4 788 tonnes, a decrease of 2.7% from the previous year. Over the 2017-2020 period, imports increased by 28.2%, with a compound annual growth rate of 8.6%. The peak was in 2019 at 4 922 tonnes, which also recorded the largest increase of 22.5%.

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

Throughout 2017-2020, the key sources for Colombia's cocoa powder and cake imports in volume terms were Ecuador, contributing 55.0% of imports, Peru at 20.8%, and Spain with 12.7%. Together, these three partners accounted for 88.5% of total import flows.

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

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

Imports in value, K $ US

Colombia's imports of cocoa powder and cake in value terms rose for the third consecutive year. In 2020, imports totaled 10 910 thousand US dollars, indicating a moderate 5.4% increase compared to the previous year. Between 2017 and 2020, import value grew by 29.7%, equating to an annualized rate of 9.1%.

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

From 2017 to 2020, the primary partners for Colombia's cocoa powder and cake imports in value terms were Ecuador, representing 54.8% of imports, Peru at 18.4%, and Spain with 13.9%. These three countries together accounted for 87.1% of total import value.

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

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