Belarus: Cocoa Powder Market 2024

Cocoa Powder Market Size in Belarus

In 2022, the Belarusian cocoa powder market decreased by -11.9% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Cocoa Powder Production in Belarus

In value terms, cocoa powder production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Cocoa powder production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports from Belarus

For the fourth consecutive year, Belarus recorded growth in overseas shipments of cocoa powder (not sweetened), which increased by 93% to X tons in 2022. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 104%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, cocoa powder exports skyrocketed to $X in 2022. Overall, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for cocoa powder exports from Belarus, accounting for a 81% share of total exports. Moreover, cocoa powder exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), eightfold. Uzbekistan (X tons) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+1.1% per year) and Uzbekistan (+82.0% per year).

In value terms, Russia ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Belarus, comprising 80% of total exports. The second position in the ranking was held by Ukraine ($X), with a 9.3% share of total exports. It was followed by Latvia, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-3.5% per year) and Latvia (+10.8% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, growing by 26% against the previous year. Over the period under review, the export price, however, recorded a noticeable descent. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Moldova ($X per ton), while the average price for exports to Uzbekistan ($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 Latvia (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Belarus

In 2022, after seven years of growth, there was significant decline in overseas purchases of cocoa powder (not sweetened), when their volume decreased by -6.3% to X tons. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 37% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, cocoa powder imports contracted modestly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Cote d'Ivoire (X tons), Ghana (X tons) and Germany (X tons) were the main suppliers of cocoa powder imports to Belarus, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cote d'Ivoire (with a CAGR of +97.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the largest cocoa powder suppliers to Belarus, together accounting for 64% of total imports.

Cote d'Ivoire, with a CAGR of +85.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, with an increase of 5.2% against the previous year. In general, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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