From: EPA’s Lab Test Results for Household Cookstoves, Jim Jetter, 2012 

Since 2012, optimized biomass cook stoves have been tested at ~50% thermal efficiency

The temperature of the hot gases flowing past the surface of the pot is increased by

1. Creating as much flame (1,100C) as possible in a low mass, insulated combustion chamber.
2. Decreasing the distance between the fire and the pot without making excess smoke.
3. Not allowing external air to cool the combustion gasses.

In convective heat transfer, the primary resistance is the surface boundary layer of still air immediately adjacent to a wall. 

Increasing Temperatures, increasing exposed Area, increasing Radiation, increasing Velocity in a 6mm to 7mm channel gap (10cm or higher) pot skirt has been shown (up to 5kW firepower) in a 24cm or larger diameter pot to result in ~50% thermal efficiency. Reducing losses from the exterior of the pot skirt with refractory ceramic fiber insulation also increases thermal efficiency. 

60% thermal efficiency has been demonstrated in the lab.

Helpful links:

• EPA’s Lab Test Results for Household Cookstoves
• TARP-V: Optimizing Heat Transfer Efficiency