National Cocoa Industry Revenue Declines by 31% in First Quarter of 2024: A Comparative Analysis with 2023
The cocoa processing industry in Brazil witnessed a significant decline in revenue during the first quarter of 2024, marking a stark contrast to the figures reported in the same period of 2023. Data compiled by SindiDados – Campos Consultores and published by the National Cocoa Processing Industries Association (AIPC) shed light on the industry's performance, highlighting notable changes in cocoa bean imports and processing volumes.
Cocoa Processing Volume:The cocoa processing industry processed 18,700 tons of cocoa during the first quarter of 2024, indicating a significant decline of 31% from the 27,200 tons processed in the same period of 2023.
Industry Challenges:Anna Paula Losi, President of AIPC, attributed the decline in revenue to various factors, including the impact of El Niño and diseases such as witches' broom and brown rot. She emphasized that the decline in processing volume was also influenced by a decrease in almond purchases.
Almond Processing Volume:Almond processing volume in the first quarter of 2024 witnessed a 6% decrease compared to the same period in 2023, totaling 59,900 tons.
Regional Insights:The state of Bahia accounted for over 61% of the total national almond volume processed during the first quarter of 2024. However, there was an approximately 18% decrease in the volume provided by the government compared to the same period last year.
The first-quarter performance of Brazil's cocoa industry in 2024 reflects a challenging landscape characterized by reduced revenue and processing volumes compared to the previous year. As the industry grapples with external factors and internal challenges, stakeholders are urged to strategize and innovate to navigate through these uncertain times effectively.
Key Findings
Cocoa Bean Imports:Cocoa bean imports totaled 15,000 tons between January and March 2024, reflecting a substantial decrease compared to the corresponding period in 2023.Cocoa Processing Volume:The cocoa processing industry processed 18,700 tons of cocoa during the first quarter of 2024, indicating a significant decline of 31% from the 27,200 tons processed in the same period of 2023.
Industry Challenges:Anna Paula Losi, President of AIPC, attributed the decline in revenue to various factors, including the impact of El Niño and diseases such as witches' broom and brown rot. She emphasized that the decline in processing volume was also influenced by a decrease in almond purchases.
Almond Processing Volume:Almond processing volume in the first quarter of 2024 witnessed a 6% decrease compared to the same period in 2023, totaling 59,900 tons.
Regional Insights:The state of Bahia accounted for over 61% of the total national almond volume processed during the first quarter of 2024. However, there was an approximately 18% decrease in the volume provided by the government compared to the same period last year.
The first-quarter performance of Brazil's cocoa industry in 2024 reflects a challenging landscape characterized by reduced revenue and processing volumes compared to the previous year. As the industry grapples with external factors and internal challenges, stakeholders are urged to strategize and innovate to navigate through these uncertain times effectively.