Cameroon: Cocoa Butter Market 2024

Cocoa Butter Market Size in Cameroon

The Cameroonian cocoa butter market skyrocketed to $X in 2022, growing by 34% against the previous year. In general, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -20.6% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Cocoa Butter Production in Cameroon

In value terms, cocoa butter production expanded significantly to $X in 2022 estimated in export price. In general, production enjoyed strong growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 73%. Cocoa butter production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports from Cameroon

In 2022, after five years of growth, there was decline in overseas shipments of cocoa butter, when their volume decreased by -4% to X tons. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 126% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted slightly in the following year.

In value terms, cocoa butter exports reached $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 111% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for cocoa butter exports from Cameroon, with a 77% share of total exports. Moreover, cocoa butter exports to France exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+79.3% per year) and the Netherlands (+34.3% per year).

In value terms, France ($X) remains the key foreign market for cocoa butter exports from Cameroon, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by the Netherlands, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to France totaled +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+78.9% per year) and the Netherlands (+43.5% per year).

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, growing by 8.1% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price decreased by -7.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 22% against the previous year. 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.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Germany ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Butter Imports

Imports into Cameroon

In 2022, after two years of growth, there was decline in overseas purchases of cocoa butter, when their volume decreased by -0.6% to X tons. In general, imports recorded a mild slump. The most prominent rate of growth was recorded in 2018 when imports increased by 164%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa butter imports declined dramatically to $X in 2022. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 72% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest cocoa butter supplier to Cameroon, with a 71% share of total imports. Moreover, cocoa butter imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-15.9% per year) and France (+36.8% per year).

In value terms, the largest cocoa butter suppliers to Cameroon were Belgium ($X), France ($X) and the United States ($X).

France, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cocoa butter import price stood at $X per ton in 2022, which is down by -19% against the previous year. Overall, the import price showed a abrupt decrease. The growth pace was the most rapid in 2017 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average 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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform