Cameroon: Cocoa Powder Market 2024

Cocoa Powder Market Size in Cameroon

The Cameroonian cocoa powder market dropped modestly to $X in 2022, falling by -2.7% against the previous year. In general, consumption, however, posted prominent growth. Cocoa powder consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Cameroon

In value terms, cocoa powder production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 42%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Cameroon

In 2022, exports of cocoa powder (not sweetened) from Cameroon dropped significantly to X tons, waning by -45.2% on 2021. In general, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 945% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports contracted rapidly to $X in 2022. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 774%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for cocoa powder exports from Cameroon, with a 84% share of total exports. Moreover, cocoa powder exports to the Netherlands exceeded the volume sent to the second major destination, Spain (X tons), sevenfold. The third position in this ranking was taken by Morocco (X kg), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-22.1% per year) and Morocco (0.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Cameroon, comprising 79% of total exports. The second position in the ranking was taken by Spain ($X), with a 12% share of total exports. It was followed by Morocco, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-21.8% per year) and Morocco (0.0% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, growing by 1.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 13% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Germany ($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 China (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Cameroon

In 2022, after two years of decline, there was growth in overseas purchases of cocoa powder (not sweetened), when their volume increased by 3.4% to X tons. Over the period under review, imports recorded moderate growth. The most prominent rate of growth was recorded in 2018 when imports increased by 145% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports dropped to $X in 2022. Overall, imports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2015 with an increase of 102% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest cocoa powder supplier to Cameroon, accounting for a 65% share of total imports. Moreover, cocoa powder imports from Indonesia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.2% per year) and India (+10.1% per year).

In value terms, Indonesia ($X) constituted the largest supplier of cocoa powder (not sweetened) to Cameroon, comprising 57% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total imports. It was followed by India, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+12.1% per year) and India (+6.4% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, with a decrease of -11.1% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The growth pace was the most rapid in 2016 an increase of 35%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform