In 2023, Bolivian cocoa and its derivatives hit a new export high of $2.9 million, weighing in at 621 tons.
This exceeded the previous record of $2.7 million and 476 tons from 2022, as noted by the Bolivian Foreign Trade Institute (IBCE).
Over the last decade, cocoa contributed $27 million and nearly 5,000 tons to the economy.
January 2024 saw cocoa sales surpass one million dollars, showcasing a strong start.
Germany, Argentina, Switzerland, France, Italy, and the Netherlands were the top buyers, making up significant percentages of the total exports.
Key products shipped included cocoa butter, seeds, and chocolate. La Paz led production with 71%, followed by Santa Cruz at 29%.
Bolivian cocoa is renowned for its quality and is sought after by top global chocolate makers.
The government has actively promoted this commodity at events like the “Cocoa & Chocolate Salon” and the “Cacao of Excellence” in the Netherlands, where Bolivian cocoa earned silver medals.
This contest, involving nations from various continents, emphasizes the promotion of high-quality cocoa.
Bolivian cocoa production, though modest compared to giants like Ivory Coast and Ghana, is noted for its quality.
These leading countries annually produce over a million tons. Bolivia’s exports mainly stemmed from value-added products like cocoa butter and chocolate, contrasting with the larger volumes and raw focus of the top producers.
Internationally recognized for quality, Bolivia’s cocoa fetches premium prices and stands out in specialty markets.
Facing infrastructure challenges, Bolivia can boost its market share by targeting niche markets and improving marketing.
This narrative highlights Bolivia’s rising presence in the global cocoa market, emphasizing its successes and growth opportunities with premium cocoa.
Background
This week in London, the cocoa market witnessed a dramatic climb, with futures on the ICE escalating by 14%, approaching a breathtaking peak of nearly 10,000 pounds per metric ton.
This surge is fueled by a robust demand for cocoa that continues to defy the rising price trends.
London’s trading floors buzzed as cocoa prices surged 4.4%, closing at 9,835 pounds per ton, driven by a 9.7% jump on Thursday.
Approaching the previous peak of 9,980 pounds per ton, these figures suggest the possibility of reaching new heights soon.