Belarus: Cocoa Butter Market 2024

Cocoa Butter Market Size in Belarus

The Belarusian cocoa butter market rose modestly to $X in 2022, growing by 2.7% against the previous year. Overall, consumption saw measured growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Cocoa Butter Production in Belarus

In value terms, cocoa butter production dropped modestly to $X in 2022 estimated in export price. In general, production, however, recorded a temperate increase. The growth pace was the most rapid in 2018 when the production volume increased by 41%. Cocoa butter production peaked at $X in 2019; afterwards, it flattened through to 2022.

Cocoa Butter Exports

Exports from Belarus

In 2022, approx. X tons of cocoa butter were exported from Belarus; shrinking by -34.3% against 2021 figures. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 601%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cocoa butter exports shrank dramatically to $X in 2022. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 374% against the previous year. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Russia (X tons) was the main destination for cocoa butter exports from Belarus, accounting for a 73% share of total exports. Moreover, cocoa butter exports to Russia exceeded the volume sent to the second major destination, Lithuania (X kg), fourfold. Ukraine (X kg) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +50.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+32.1% per year) and Ukraine (+32.5% per year).

In value terms, Russia ($X) remains the key foreign market for cocoa butter exports from Belarus, comprising 65% of total exports. The second position in the ranking was held by Lithuania ($X), with a 28% share of total exports. It was followed by Ukraine, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+43.8% per year) and Ukraine (+39.1% per year).

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, rising by 15% against the previous year. Over the period under review, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 121%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Georgia ($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 Georgia (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Belarus

Cocoa butter imports into Belarus surged to X tons in 2022, growing by 16% against the previous year's figure. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 155% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cocoa butter imports expanded significantly to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 95%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of cocoa butter imports to Belarus, together comprising 74% of total imports. Estonia, Poland, Latvia, the Netherlands, Cote d'Ivoire and Ghana lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +43.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) constituted the largest cocoa butter suppliers to Belarus, together accounting for 71% of total imports. Estonia, Poland, the Netherlands, Latvia, Cote d'Ivoire and Ghana lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Latvia, with a CAGR of +42.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa butter import price stood at $X per ton in 2022, with a decrease of -5.6% against the previous year. Over the period under review, the import price showed a slight decrease. The growth pace was the most rapid in 2013 when the average import price increased by 32% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Cote d'Ivoire ($X per ton) and the Netherlands ($X per ton), while the price for China ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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