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Uncertain Future for Colombian Cocoa Exports Amid Tariffs, Colombian Cocoa Exports Doubled in 2024: Analdex

By: Diana Delgado, Contractor

Uncertain Future for Colombian Cocoa Exports Amid Tariffs, Colombian Cocoa Exports Doubled in 2024: Analdex

 
  • Diana Delgado
  • Latin American correspondent
  • diana.delgado@stonex.com

Uncertain Future for Colombian Cocoa Exports Amid Tariffs, Colombian Cocoa Exports Doubled in 2024: Analdex

Commodities Network (Bogota)- Colombian cocoa and its derivatives exports doubled reaching US$265 million in 2024, yet it is uncertain if this pace will continue in 2025 as the main suppliers of cocoa to the US are Canada, the Ivory Coast, and Mexico. The African country was left with tariffs of 21%, which could benefit Colombia; while Colombia is at a disadvantage with the other two countries, the country’s exporters association Analdex said.

Colombian cocoa and cocoa derivatives exports totaled US$265.1 million, 106.1% more than in 2023, when they were US$128.6 million, according to figures from the tax office Dian and the Analdex analysis. In 2024, nearly 75 countries received Colombian cocoa beans or processed cocoa in various forms, with the United States, Mexico, Ecuador, Costa Rica, Venezuela, Belgium, Malaysia, and Germany leading these purchases.

Meanwhile, between January and February 2025, these foreign sales totaled US$20.8 million, 24.2% more than in the same period in 2024.

The huge boom in this product, whether in grain or its derivatives, was driven by three factors: coffee companies have expanded their exports; the sector's main exporters have managed to diversify and gain a stronger position abroad; and the decline in production by major exporters worldwide, including the Ivory Coast and Ghana, the main exporters worldwide, in 60 years.

"Colombian cocoa has positioned itself in more than 70 international markets as a high-quality product. It is a sector that generates hundreds of jobs in different regions of the country, and we hope it can continue to boom abroad, to help diversify the country's export portfolio," said Javier Díaz Molina, CEO of Analdex said.

Yet the outlook for 2025 is uncertain.  According to TradeMap, the main suppliers of cocoa to the US are Canada, the Ivory Coast, and Mexico. The African country was left with tariffs of 21%, which could benefit Colombia; while Colombia is at a disadvantage with the other two.

In 2024, in terms of regions, Antioquia, Bogotá, Santander, Valle del Cauca, Huila, and Caldas were the departments with the most exports in this sector. Significant increases were seen in Antioquia (100.2% and US$98.9 million), Santander (601.3% and US$38.5 million), and Huila (265.7% and US$16.1 million).

Similarly, the main exporting companies were Compañía Nacional de Chocolates; Casa Luker; Condor Specialty Coffee, Colombina, Cafexport, and Súper de Alimentos.

By product, raw cocoa beans led exports with US$64.8 million and an increase of 391.8% compared to 2023. Other chocolates and other food preparations containing cocoa, as well as cocoa butter, followed. Cocoa.

A FAO report that the global cost of food imports is expected to increase by 2.2% compared to last year, reaching more than USD 2 trillion in 2024, due to the impact of higher prices for cocoa, coffee, and tea.

The analysis specified that “import expenditures for cocoa, coffee, and tea are expected to increase by 22.9%, which represents more than half of the global increase in value terms. This is due to the rebound in international prices for these products, mainly because of weather conditions and logistical problems. Cocoa prices almost quadrupled their 10-year average in early 2024.

By Diana Delgado

 

  • Cocoa

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