Cocoa and chocolate are byproducts of the cacao tree's beans. Cacao beans are fermented, roasted, shelled, ground, and made into paste to produce cocoa or chocolate. Eastern Europe, particularly Bulgaria and Estonia, has seen significant growth in cocoa imports in recent years, with Bulgaria importing over 18,000 tonnes in 2019, mostly from Cote d'Ivoire. The major export markets for Indian cocoa are the USA, Nepal, China, the Netherlands, and Singapore.

1. Cocoa Export Markets
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2. Cocoa and chocolate are two
by-products of the cacao
tree, Theobroma cacao, and its
beans. Cacao beans are fermented,
roasted, shelled, ground, and turned
into paste, which can then be made
into either cocoa or chocolate. Both
names are also associated with
popular drinks made from these
substances.
COCOA Applications

3. Cocoa & CACAO !
SAME OR DIFFERENT ?
There’s a difference between the cocoa in an average
chocolate bar and real cacao. Cocoa is processed
cacao that’s been roasted at high temperatures, while
cacao is made by cold-pressing un-roasted cacao
beans. The process of making cacao preserves all of
the antioxidants in the chocolate. Roasting the cacao
to make cocoa actually destroys the antioxidants in
the chocolate.

4. Eastern Europe is becoming an
interesting destination for cocoa
exporters
Bulgaria is Eastern Europe’s largest cocoa bean importer, with huge growth in recent
years. Between 2015 and 2019, direct imports from Bulgaria increased from 8 tonnes
to nearly 18,000 tonnes. Over 99% of total Bulgarian imports were directly sourced
from cocoa-producing countries in 2019. These were mostly from the Ivory Coast.
Another country registering high growth rates is Estonia. There, direct imports
increased from 69 tonnes in 2015 to 3,462 tonnes in 2019.

5. Examples of some of
the winning craft
chocolate makers
POTENTIAL BUYES OF
COCOA & CACAO ?

6. Exporting
certified cocoa
Rainforest Alliance is the most
commonly used mainstream
certification scheme for cocoa

7. Cocoa Products
Exports of India
The major export markets for Indian
cocoas were USA (14.9%),
Nepal(11.6%),China(7.71%), Netherland
(6.94%)and Singapore (5.06%).

8. Ghana’s processed
cocoa export
markets expanding
Ghana’s export of chocolate to the international
markets last year amounted to US32.1 million
whereas sweetened cocoa powder dominated
the export of other food preparations
containing cocoa, generating US$12 million.

9. Exports: In 2018 the
top exporters of Cocoa Beans were
Cote d'Ivoire ($3.53B), Ghana ($1.78B),
Ecuador ($674M), Nigeria ($621M), and
Cameroon ($492M). Imports: In 2018
the top importers of Cocoa Beans
were Netherlands ($2.15B), Germany
($1B), United States ($927M), Malaysia
($812M), and Indonesia ($628M).
Ivory Coast
In 2019, Ivory Coast was the world's leading cocoa
bean exporter, based on export value. That year, the
Ivory Coast exported about 3.57 billion U.S. dollars
worth of cocoa beans worldwide. In comparison, the
United States exported approximately 28.12 million U.S.
dollars worth of cocoa beans that year.

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