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There are around 20 different species of cocoa but only two species are used to produce chocolate which are Criollo and Forastero.

Cocoa is imported primarily by rich industrialized countries such as the USA and Europe. Within Europe, Germany is one of the main importers of cocoa.

Cocoa is traded in US dollars per tonnes. To ascertain how valuable cocoa is, it is traded on New York Mercantile Exchange and the Intercontinental Exchange in London.

The prices in New York are based on the South-Asian market and prices in London are based on cocoa from Africa.

The biggest producers of cocoa are Ivory Coast and Ghana which together account for more than 60 percent of the world’s output.

Officially, the average international price for cocoa is 2,357.98 United States Dollars per metric ton. Although this price may fluctuate from time to time depending many variants on the stock exchange.


As of 2020, the overall global import value of cocoa was 6.25 billion dollars.

5.60 million metric tons of the commodity was imported across several countries.

Switzerland is the highest consumer of the commodity

Austria, Ireland, and Great Britain are also top cocoa consumers.

The Netherlands is the highest importer of cocoa globally. In 2020, Netherland imported cocoa quantity valued at 2.4 Billion dollars.

Importation into the Netherlands accounts for 30.8 percent of cocoa global importation annually.


A brief overview of the cocoa export market

Côte d'Ivoire and Ghana are the two largest exporters of cocoa accounting for over 60 percent of global cocoa exportation followed by Ecuador with seven percent. Indonesia is the biggest cocoa producer in Asia.

In 2020, the cocoa export market was valued at 6.22 billion dollars.

The countries that had the largest trade value in exports of Cocoa Beans were Cote d'Ivoire with over 3.84 billion dollars, Ghana with over 1.58 billion dollars, Nigeria with over 715 million dollars, Ecuador with over 668 million dollars, and Cameroon with over 647 million dollars respectively.




One of the most important export commodities for developing countries is cocoa. Cocoa is mostly imported by wealthy industrialized nations such as the United States and Europe. The Ivory Coast, Ghana, Malaysia, and Brazil are the top cocoa producers. The only two species used to make chocolate are Criollo and Forastero. Cocoa has an average international price of 2,357.98 US dollars per metric ton.

The New York Mercantile Exchange and the London Intercontinental Exchange both trade cocoa. Ivory Coast and Ghana are the world's largest cocoa producers, accounting for more than 60% of global production. The Netherlands is the world's largest importer of cocoa. Ivory Coast, Nigeria, and Cameroon supplied the majority of their imports. The importation of the item costs the US a whopping 1.0 billion dollars every year.

Germany imports 12.43 percent of the cocoa from around the world. Cocoa is arguably best recognized today as the raw material for chocolate, which consumes over 90% of all cocoa produced worldwide. Ivory Coast is the world's top cocoa exporter, with an average yearly revenue of 2.7 billion dollars from the product. The top two cocoa exporters are Ghana and Côte d'Ivoire. The Netherlands is the world's sixth largest cocoa exporter, accounting for 3.52 percent of total cocoa exports.

Cocoa bean exports to Canada bring in 168.24 million dollars per year for the Ivory Coast. The Dominican Republic exports 2.54 percent of all cocoa in the world.






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