Rising cocoa imports in Brazil: reflections and challenges

A 300% jump in imports

In the Brazilian economic landscape, a phenomenon has caught experts' attention: the significant increase in cocoa imports in 2023, which reached the US$ 110 million mark, representing a remarkable 300% growth compared to the previous year, as revealed by a recent study conducted by Vixtra. This significant increase also reflected in the imported volume, which reached 43,300 tons last year, a considerable jump compared to 2022.

Origin of imported cocoa

According to data from the Foreign Trade Secretariat (SECEX) and the International Cocoa Organization (ICCO), almost 100% of the cocoa arriving in Brazil originates from Ivory Coast (with 80.84% of exports) and Ghana (with 19.12%).

Price pressure: 75% increase

The increase in cocoa prices has also been a prominent topic, with 75% growth in this commodity's value in 2023, according to ICCO data. This increase is related to adverse weather conditions, crop diseases and scarcity in West Africa. The El Niño climate phenomenon has contributed to creating even more challenging conditions in key countries like Ghana and Ivory Coast.

Impact on the chocolate industry

Despite these challenges, cocoa imports play a crucial role in ensuring stable supply for the chocolate industry in Brazil, especially during periods of high demand like Easter. Companies in the sector are adjusting their pricing and promotion strategies to ensure product accessibility in line with healthy profit margins.

Conclusion

In this context, it's essential to closely monitor cocoa market trends and the dynamics influencing prices, as this directly impacts not only the chocolate industry but also end consumers.