The export value of cocoa beans from Malaysia to Singapore has demonstrated a consistent upward trend from 2013 to 2023, starting at 92.72 million USD in 2013 and rising to 254.65 million USD in 2023. Except for minor dips in 2015 and 2017, the overall year-on-year growth has been positive, with significant jumps around 2014 and 2021. The average annual growth (CAGR) over the last five years stands at 4.26%, highlighting steady growth. Future projections from 2024 to 2028 suggest a continued rise, with the export value expected to reach 308.82 million USD by 2028, with a five-year CAGR of 3.05%, showing a forecasted cumulative growth rate of 16.23%.
Future trends to watch for:
- Potential market disruptions due to economic conditions or supply chain issues.
- Impact of climate change on cocoa production and subsequent market fluctuations.
- Emerging trade policies or agreements that could affect export dynamics.
- Technological advancements in agriculture that may influence cocoa yield and quality.
