Impact of cocoa exports on the profitability of large cocoa companies in Los Ríos province, 2022-2024

Abstract

DOI: https://doi.org/10.46296/rc.v8i15.0366

The present research analyzed the impact of the cacao export dynamism on the profitability of large cocoa companies in the province of Los Ríos during the period 2022–2024. The main objective was to identify the relationship between the growth of exports and the key financial indicators of these organizations, such as sales revenue, operating profit, net profit, assets, and equity. The study was conducted under a quantitative approach, with a descriptive scope and non-experimental design, using official information from the Superintendence of Companies, Securities, and Insurance of Ecuador and the Central Bank of Ecuador. The results showed that, despite the notable increase in exported volumes and the historic rise in international cocoa prices driven by a decline in African production, the large cocoa companies did not manage to translate this favorable environment into proportional profitability. Although there was a gradual improvement in their revenues and equity, net profits continued to be limited in relation to the volume of operations and committed assets. This situation suggests the existence of structural challenges such as low operational efficiency, high logistical costs, and an uneven distribution of added value within the production chain. The study concluded that cocoa exports constitute a strategic engine for the financial strengthening of the agro-industrial sector, but their impact on profitability largely depends on internal factors such as technological advancement, efficiency in product transformation, and management capacity. It is recommended that companies strengthen their strategic planning and that public entities generate incentives that promote productive reinvestment and value addition. The findings provide relevant empirical evidence for decision-making in a key sector of Ecuador's non-oil economy.

Keywords: Cocoa, export, companies, management.