Australia and Oceania: Cocoa Paste Market 2024

Cocoa Paste Market Size in Australia and Oceania

In 2021, the cocoa paste market in Australia and Oceania increased by 6.1% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Cocoa Paste Production in Australia and Oceania

In value terms, cocoa paste production declined slightly to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 when the production volume increased by 31%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports in Australia and Oceania

In 2021, exports of cocoa paste in Australia and Oceania stood at X tons, rising by 10% compared with 2020. Overall, exports posted a resilient increase. The growth pace was the most rapid in 2017 with an increase of 52%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, cocoa paste exports rose rapidly to $X in 2021. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 92% against the previous year. The level of export peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports by Country

Papua New Guinea prevails in exports structure, resulting at X tons, which was near 90% of total exports in 2021. It was distantly followed by Australia (X tons), generating a 6% share of total exports. New Zealand (X tons) took a relatively small share of total exports.

Papua New Guinea was also the fastest-growing in terms of the cocoa paste exports, with a CAGR of +13.8% from 2012 to 2021. At the same time, New Zealand (+8.2%) displayed positive paces of growth. By contrast, Australia (-3.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Papua New Guinea increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Papua New Guinea ($X) remains the largest cocoa paste supplier in Australia and Oceania, comprising 90% of total exports. The second position in the ranking was held by New Zealand ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Papua New Guinea amounted to +26.3%. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (+5.9% per year) and Australia (-10.0% per year).

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2014 an increase of 51% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+10.9%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in Australia and Oceania

In 2021, supplies from abroad of cocoa paste was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, cocoa paste imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia dominates imports structure, reaching X tons, which was near 91% of total imports in 2021. It was distantly followed by New Zealand (X tons), committing an 8.4% share of total imports.

Australia was also the fastest-growing in terms of the cocoa paste imports, with a CAGR of +3.5% from 2012 to 2021. New Zealand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Australia increased by +2.1 percentage points.

In value terms, Australia ($X) constitutes the largest market for imported cocoa paste in Australia and Oceania, comprising 92% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 7.8% share of total imports.

In Australia, cocoa paste imports increased at an average annual rate of +4.7% over the period from 2012-2021.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, increasing by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2016 when the import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.2%).

Source: IndexBox Platform

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