Argentina: Cocoa Powder Market 2024

Cocoa Powder Market Size in Argentina

In 2022, the Argentinian cocoa powder market decreased by -0.8% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a slight reduction. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Argentina

In value terms, cocoa powder production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a measured expansion. The growth pace was the most rapid in 2016 when the production volume increased by 169%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Cocoa Powder Exports

Exports from Argentina

In 2022, approx. X tons of cocoa powder (not sweetened) were exported from Argentina; with a decrease of -45.2% compared with 2021 figures. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 567% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports reduced notably to $X in 2022. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 193% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for cocoa powder exports from Argentina, with a 85% share of total exports. Moreover, cocoa powder exports to Chile exceeded the volume sent to the second major destination, Brazil (X kg), more than tenfold. The third position in this ranking was held by Paraguay (X kg), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to Chile stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+55.7% per year) and Paraguay (-19.1% per year).

In value terms, Chile ($X) emerged as the key foreign market for cocoa powder (not sweetened) exports from Argentina, comprising 75% of total exports. The second position in the ranking was taken by Paraguay ($X), with an 11% share of total exports. It was followed by Brazil, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile amounted to -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-12.6% per year) and Brazil (+35.8% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, with an increase of 22% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 71%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Argentina

After two years of growth, supplies from abroad of cocoa powder (not sweetened) decreased by -7.9% to X tons in 2022. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, cocoa powder imports expanded modestly to $X in 2022. In general, imports recorded a pronounced decline. The growth pace was the most rapid in 2021 with an increase of 43%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest cocoa powder supplier to Argentina, accounting for a 58% share of total imports. Moreover, cocoa powder imports from Brazil exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), fourfold. Peru (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+15.0% per year) and Peru (+90.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of cocoa powder (not sweetened) to Argentina, comprising 58% of total imports. The second position in the ranking was held by Peru ($X), with a 14% share of total imports. It was followed by Uruguay, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+79.1% per year) and Uruguay (+9.9% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, rising by 11% against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2021 an increase of 26% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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