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Turkey - Cocoa Powder (Not Sweetened) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Turkey - Cocoa Powder (Not Sweetened) - Market Analysis, Forecast, Size, Trends and Insights

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Sep 9, 2023

Price of Cocoa Powder in Turkey Increases Slightly to $3,060/ton

Turkey Cocoa Powder Import Price in July 2023

In July 2023, the cocoa powder price stood at $3,060 per ton (CIF, Turkey), surging by 2.2% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.7%. The pace of growth appeared the most rapid in April 2023 an increase of 9.7% against the previous month. Over the period under review, average import prices attained the maximum at $3,198 per ton in May 2023; however, from June 2023 to July 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was France ($4,032 per ton), while the price for Canada ($2,392 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Canada (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Turkey Cocoa Powder Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Cocoa Powder in Turkey (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
France3,2493,4412,8222,3433,1014,1394,0314,8953,2903,5283,9253,9774,032
Spain2,6602,7782,5792,6742,6922,9523,1453,1673,5443,4583,7853,5683,523
Germany2,6112,7832,6582,6512,8242,9193,0483,2723,1973,4493,3223,2483,379
Netherlands2,7342,7602,7152,7242,8913,0743,1573,2083,1253,2843,2653,3213,278
Bulgaria2,3552,3242,2832,2802,3402,4232,5802,5802,5662,6272,7142,6982,750
Canada1,6151,5771,5453,0283,3993,3903,3703,3583,3373,2783,2222,8662,392
Cote d'Ivoire3,0222,5082,9582,6302,8292,7683,3053,116N/A3,4243,139333N/A
Average2,5102,5052,4862,6802,8242,9103,1013,1512,8883,1693,1982,9943,060

Turkey Cocoa Powder Imports

Cocoa powder imports into Turkey skyrocketed to 3.5K tons in July 2023, jumping by 19% against the previous month. In general, total imports indicated a perceptible increase from July 2022 to July 2023: its volume increased at an average monthly rate of +3.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, imports decreased by -34.4% against May 2023 indices. The growth pace was the most rapid in May 2023 when imports increased by 108% m-o-m. As a result, imports attained the peak of 5.3K tons. From June 2023 to July 2023, the growth of imports remained at a lower figure.

In value terms, cocoa powder imports skyrocketed to $11M (IndexBox estimates) in July 2023. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in May 2023 when imports increased by 110% against the previous month. As a result, imports reached the peak of $17M. From June 2023 to July 2023, the growth of imports remained at a lower figure.

Turkey Cocoa Powder Imports by Country

The Netherlands (1.2K tons), Germany (719 tons) and Bulgaria (616 tons) were the main suppliers of cocoa powder imports to Turkey, with a combined 71% share of total imports. Canada, Spain, Malaysia and France lagged somewhat behind, together accounting for a further 23%.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +8.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Turkey were the Netherlands ($3.8M), Germany ($2.4M) and Bulgaria ($1.7M), with a combined 74% share of total imports. These countries were followed by Spain, Canada, Malaysia and France, which together accounted for a further 22%.

Among the main suppliers, Spain, with a CAGR of +10.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cocoa powder market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 665 - Cocoa Powder and Cake

Country coverage:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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