CIS: Cocoa Butter Market 2024

Cocoa Butter Market Size in CIS

In 2022, the CIS cocoa butter market decreased by -0.5% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in CIS

In value terms, cocoa butter production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Butter Exports

Exports in CIS

In 2022, approx. X tons of cocoa butter were exported in the CIS; dropping by -1.7% compared with the previous year's figure. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 1,125% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cocoa butter exports dropped modestly to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of 1,204%. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Russia (X tons) represented the largest exporter of cocoa butter in the CIS, comprising 98% of total export.

Russia was also the fastest-growing in terms of the cocoa butter exports, with a CAGR of +8.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest cocoa butter supplier in the CIS.

In Russia, cocoa butter exports increased at an average annual rate of +11.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, leveling off at the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 increased by +20.6% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by 56%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +2.6% per year.

Cocoa Butter Imports

Imports in CIS

In 2022, imports of cocoa butter in the CIS contracted to X tons, dropping by -5.2% against the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 17%. The volume of import peaked at X tons in 2021, and then dropped in the following year.

In value terms, cocoa butter imports declined to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 54%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia prevails in imports structure, amounting to X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Belarus (X tons), creating a 5.8% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa butter imports into Russia stood at +1.4%. At the same time, Belarus (+13.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +13.9% from 2012-2022. Belarus (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -4.9% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported cocoa butter in the CIS, comprising 94% of total imports. The second position in the ranking was taken by Belarus ($X), with a 4.6% share of total imports.

In Russia, cocoa butter imports increased at an average annual rate of +6.8% over the period from 2012-2022.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, increasing by 3.7% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price decreased by -2.9% against 2017 indices. The pace of growth was the most pronounced in 2014 when the import price increased by 67% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Belarus amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.3%).

Source: IndexBox Platform

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