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economic value, although they have overcome the difficulties that affected productivity
in the past, which caused certain declines in the quantities traded. Therefore, maintaining
the quality and levels of production and marketing of Ecuadorian cocoa is highly
important, since this product gives it a high distinction in the market and in the face of
competition, giving it international prestige. (Moreno, Vite, & Carvajal, 2022)..
As a result of the pandemic, and despite the fact that demand from cocoa importing
countries decreased somewhat, the export rate of Ecuadorian cocoa was quite
acceptable in 2020, compared to what other regions went through. Some countries
completely paralyzed their production in processing plants, which is why purchases and
imports were reduced. (Moreno, Vite, & Carvajal, 2022)..
However, Ecuador already presented financial difficulties before the beginning of the
pandemic in 2020, since several events were marking for years the economy, such as the
fall of cocoa prices in 2017; the absence of regulations and a more efficient management
carried out by the State regarding this sector; likewise, on several occasions there was
political, social and economic instability that evidently affected the welfare of citizens.
For these reasons, when COVID-19 arrived, the impact it generated on oil prices was
high, circumstances before which exports of products considered non-oil, including
cocoa, are usually a lifesaver. (Quintero & Diaz, 2004).
Even so, the sanitary emergency did not stop the internal and external cocoa trading
activities, although there was a reduction compared to other periods, as mentioned
above, as a result of which, after the worst period of the pandemic, there are short and
long term forecasts, such as the contraction of staff, increased layoffs, business closures,
fiscal deficit, economic recession, and some other negative events in the nation.
Likewise, during this period, many companies were seriously affected by the sanitary
emergency, especially those exporting raw materials such as cocoa, so they have had
difficulties in marketing their products outside the country, since international demand
was reduced and some of the main importers such as China and European countries
decided to close their production plants. (Albán, 2021).
Regarding cocoa exports in 2020, the cocoa sector in Ecuador continued to work during
the quarantine, carrying out its activities under biosafety measures and meeting the
demand for the product in different international destinations. According to data from
the National Customs Service of Ecuador (SENAE), the nation exported around US$700
million for cocoa alone in 2019. By contrast, about 325,000 metric tons were exported
in 2020, which represented about $850 million, a figure that surpassed expectations at
the height of the pandemic. On the other hand, between January and May 2021, cocoa
exports reached USD 266.4 million, an amount that is expected to be exceeded this
year with the contribution of the 161 commercial appointments programmed within the
framework of the Aromas of Ecuador project. (Macías, Mero, Montalvan, & Granoble,
2020)..