Lembaga Penyelidikan Ekonomi dan Masyarakat – Fakultas Ekonomi dan Bisnis – Universitas Indonesia

INVESTOR BRIEF: Harnessing the Prospect of Indonesia’s Sustainable Cocoa Commodity

November 14, 2022

In 2018/2019, the world produced and ground 4.7 million tonnes of cocoa beans, with around 1.7 million tonnes in stock (ICCO, 2021). These beans are processed into cocoa liquor, butter, cakes, and powders to be used by other sectors. The confectionery industry is the largest consumer, consuming 43% of the world’s cocoa consumption in 2017 (Eghbal, 2018); other notable consumers are food and beverages, cosmetics, and the pharmaceutical industries (Kumar and Sable, 2019). In 2012, overall, the cocoa sector provided revenue for 40 to 50 million people, mostly in developing countries, and generated jobs in cocoa importing countries (Voora, Bermudez and Larrea, 2019).

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