Ecuador’s cocoa exports increased by 45.5% in the first three quarters

Published 2023년 12월 20일

Tridge summary

Ecuador's cocoa exports reached $720 million from January to September 2023, with a 45.5% year-on-year increase, making it the fastest-growing export product. This growth is attributed to a decline in cocoa production in other countries and speculation in the international market, leading to a 64% increase in cocoa prices. The main export destinations for Ecuadorian cocoa are the United States, the Netherlands, Mexico, Malaysia, and Indonesia, with the latter two increasing their imports by 32% and 63% respectively due to increased demand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Ecuador's "Universo" reported on December 11 that from January to September 2023, Ecuador's cocoa exports reached US$720 million, a year-on-year increase of 45.5%, becoming the product with the fastest growing export value during the same period. Analysts believe that the reason for the rapid growth of Ecuadorian cocoa exports is that due to the decline in cocoa production in Côte d'Ivoire, Ghana and other places and the speculation in the international market caused by the El Niño phenomenon, the price of cocoa in the international market increased by 64% during the same period, that is, from US$2,500 per ton. rose to US$4,100. According to the Ecuadorian cocoa industry, cocoa export volume in 2023 will reach 417,000 tons, a year-on-year increase of 3.9%. Ecuadorian cocoa is ...

Source: Foodmate