Updated Jan 13, 2023 03:50

Cocoa Bean Market in Argentina

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Argentinian cocoa bean market rose slightly to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Cocoa bean consumption peaked at $ in 2009; however, from 2010 to , consumption remained at a lower figure.

In value terms, cocoa bean production rose to $ in estimated in export price. Overall, production, however, saw a perceptible reduction. The most prominent rate of growth was recorded in with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of cocoa beans in Argentina reduced to tons, remaining relatively unchanged against figures. Overall, consumption, however, showed a moderate expansion. Cocoa bean consumption peaked at tons in 2019; however, from to , consumption remained at a lower figure.

The revenue of the cocoa bean market in Argentina expanded slightly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2009; however, from 2010 to , consumption stood at a somewhat lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for cocoa bean in Argentina, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Argentina remains a net importer of cocoa bean; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.