White, dark, and sugar-free chocolates are high in demand in the market today. However, the country is making strides in exporting cocoa, the staple of this chocolate. Last financial year, 36,242.03 tonnes of cocoa products were exported from the country, generating a total revenue of Rs 1521.94 crores. This is an increase from the previous year’s export of 34,250.10 tonnes.
Cocoa nuts, powder, shell, butter, etc., are leading in exports. These products are bought by large groups, made into chocolate and other items, and delivered to the Indian market. This year, a global shortage of cocoa led to an increase in the price of cocoa and chocolate, affecting prices in Indian markets as well.
The US is the main consumer of Indian cocoa products, importing cocoa worth Rs 258.34 crore last financial year, amounting to 8,636.01 tonnes.
Indonesia follows in second place with imports worth Rs 100.45 crore, followed by Nepal (Rs 93.11 crore), Brazil (Rs 82.46 crore), and the UAE (Rs 67.19 crore).
India ranks 36th in the export of cocoa products but stands 23rd in the world in terms of imports. In the last financial year, 1.26 lakh tonnes of cocoa products were imported, worth Rs 4,247.25 crore. In the financial year 2022-23, the import was 1.28 lakh tonnes, worth Rs 3530.76 crore. Although imports fell marginally in 2023-24, the value rose.
