Record Cocoa Prices Favor and Encourage Producers in the State of Espirito Santo in Brazil
Currently, the record price of cocoa beans on the international market favours producers dedicated to cocoa farming in the state of Espírito Santo in Brazil. The marketed value of the product more than doubled from January to June this year. The rise in prices encourages farmers in the state, which is the 3rd largest Brazilian producer of cocoa, with significant production in 45 municipalities in Espírito Santo. Linhares City is the largest producer and accounts for 69.78% of state production.
In Espírito Santo, cocoa is a supplementary income for many farmers and is present in 2.60% of rural establishments (2,806 establishments), with 69% of establishments producing cocoa being family farming (1,924 establishments). The ten largest producing municipalities account for more than 91% of production, according to a survey by the Data and Analysis Management of the State Secretariat for Agriculture, Supply, Aquaculture and Fisheries (Seag). In 2023 alone, it is estimated that cocoa production will reach 13.7 thousand tons (+16.7% compared to 2022), in an area of 17.7 thousand hectares. Among fruits, cocoa is third in order of importance in generating rural income, behind only papaya and banana.
Espírito Santo cocoa derivatives reached 45 countries last year, with Uruguay (20.45%), Bolivia (16.73%) and Argentina (16.44%) as the main importers. Last year, exports of cocoa derivatives reached 2.9 tons and US$ 15.7 million and Espírito Santo is currently the fifth largest exporter of cocoa and derivatives in Brazil. This year, in the first quarter of 2024 alone, exports reached 34 countries, totaling 4.1 million dollars.
Cocoa production also strengthens the Espírito Santo economy, as does its main derivative product, chocolate, says the Secretary of State for Agriculture, Enio Bergoli.
Source:
YCharts
ES