Dutch cocoa imports nearly doubled in the first quarter of 2024, signaling major changes in the global cocoa landscape. Statistics Netherlands (CBS) reports an 84 percent increase in import value over the same period last year, driven by higher volumes and prices.
In Q1 2024, the Netherlands imported cocoa worth 1.3 billion euros, compared to 0.6 billion euros in Q1 2023. Import volumes rose by 32 percent, with average prices for cocoa and related products jumping by 40 percent. Poor harvests in Ivory Coast and Ghana, major suppliers, due to heavy rains and crop diseases, contributed to these price increases.
Ivory Coast remains the Netherlands’ primary cocoa source, accounting for 41 percent of Q1 2024 imports. Despite a 40 percent rise in import value from Ivory Coast, its share of total imports slightly declined. Cameroon and Ghana follow, with import values at 17 percent and 11 percent, respectively. Even with a 35 percent increase in Ghanaian imports, its share also decreased.
Countries such as Nigeria, Ecuador, and Peru have gained prominence as cocoa suppliers, indicating a diversification trend. Despite this, Ivory Coast’s dominance underscores its critical role in the cocoa market.
The Netherlands leads EU cocoa imports, capturing 30 percent of the total in Q1 2024, up from 25 percent in Q1 2023. The EU imported cocoa worth 4.5 billion euros during this period. Germany and Belgium follow, with shares of 22 percent and 14 percent, respectively.
The Netherlands also ranks as a significant exporter of processed cocoa products within the EU, second only to Ivory Coast. Most of the imported cocoa serves domestic companies, with only 5 percent being transitory.
The shifts in Dutch cocoa imports reflect broader global market trends. Adverse weather and crop diseases in key producing nations like Ivory Coast and Ghana have driven prices up and spurred sourcing diversification. The Netherlands, as a central hub for cocoa imports and processing in the EU, influences global cocoa trade patterns and pricing.
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