Cocoa is the main raw material for the chocolate industry and an economic mainstay for many countries. However, the world’s cocoa production faces countless challenges: from fixed price markets to the impact and consequences of deforestation. In this article, we will analyse the evolution of the most important cocoa producing countries in 2024.
Africa: continent of the most important cocoa-producing countries
Côte d’Ivoire is the world’s leading cocoa producing country. Around 2 million tonnes of cocoa are produced in this coastal country. That is approximately 38 % of the world’s cocoa. This industry accounts for 15 % of the country’s gross domestic product. However, despite the high volume of production, the farmers receive a regulated payment from the government, which limits their economic benefits.
This is also the situation in Ghana, the second largest cocoa producing country in the world. The neighbouring territory of Côte d’Ivoire produces 800,000 tonnes per year. The country is also a major exporter of cocoa paste and cocoa butter, which are key to chocolate production. Even so, it is a country that has been criticised for sustainability problems due to the ageing of its crops.
Other important cocoa producing countries are Cameroon and Nigeria. Both produce around 300,000 tonnes of cocoa annually. The Cameroonian market is more flexible and modern, as the country has implemented policies to modernise the production ecosystem. Nigeria, on the other hand, has promoted initiatives to improve the quality of the product and increase its value on the international market.
Evolution and history in cocoa producing countries
The cocoa market has suffered a decline in production in 2024. According to data from the International Cocoa Organisation, 4,449,000 tonnes will be produced in the 2023/2024 season. This figure represents a reduction of 9.9% compared to the previous period.
Although the figures are very high and concentrated, mainly in Africa, the reduction is related to adverse climatic conditions. The western slope has been affected by high temperatures and torrential rains as a result of the El Niño phenomenon. Climate change (a challenge addressed by Coolx through the implementation of the EUDR solution to ensure that cocoa is deforestation-free), low investment and the demand for cocoa on the world market have increased the price of cocoa.
As a result, countries with emerging markets and fewer regulatory policies have announced their intention to increase production. Among them, Ecuador, Brazil and Cameroon want to take advantage of the high demand and rising prices.
The geographical distribution by cocoa producing countries in 2023/2024 is as follows:
- África: 3,151,000 tonnes (70% of the total).
- America: 1,055,000 tonnes (24% of the total).
- Asia and Oceania: 255,000 tonnes (6% of the total).
Latin America and Asia: emerging areas in cocoa production
Africa continues to dominate cocoa production, despite the problems affecting the continent. In contrast, South American and Asian countries are increasing their share in the first part of the value chain.
Ecuador is the largest cocoa producer in the Americas, with 430,000 tonnes per year. Its cocoa, which is noted for its fine aroma, is highly valued on the international market. For this reason, exports are made to all corners of the world, although the main exports are to the Netherlands, Malaysia and the United States.
The market model in emerging cocoa producing countries is liberalised, allowing producers to benefit from higher prices. In addition to Ecuador, other countries have strengthened their cocoa industry:
- Brazil: production of 220,000 tonnes in 2024. Its free market allows farmers to earn higher profits.
- Peru: with 160,000 tonnes, it is renowned for its fine and sustainable cocoa.
- Dominican Republic: leading country in organic cocoa production, with 80,000 tonnes per year.
- Indonesia: leading producer in Asia, although its cocoa is of lower quality compared to America and Africa.
The cocoa market in 2024 is marked by supply shortages and rising prices, largely due to climatic and structural factors.
Although Africa remains the world’s leading producer, countries such as Ecuador, Brazil and Indonesia are looking to expand production to benefit from growing demand. However, African producers face a pricing pattern that limits their revenues, which could open the door to greater diversification in the global market.
| Ranking | Country | Estimated Exports (tons) | Main Destination Markets |
|---|---|---|---|
| 1 | Ivory Coast | 2,000,000 | Netherlands, Germany, Belgium, Malaysia |
| 2 | Ghana | 800,000 | Germany, USA, Belgium, France |
| 3 | Ecuador | 430,000 | Netherlands, Malaysia, USA |
| 4 | Cameroon | 300,000 | France, Netherlands, Germany |
| 5 | Nigeria | 280,000 | USA, Malaysia, Germany |