CIS: Cocoa Powder Market 2024

Cocoa Powder Market Size in CIS

In 2022, the CIS cocoa powder market decreased by -9.2% to $X for the first time since 2014, thus ending a seven-year rising trend. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Cocoa Powder Production in CIS

In value terms, cocoa powder production expanded slightly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 42% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports in CIS

After five years of growth, shipments abroad of cocoa powder (not sweetened) decreased by -10.4% to X tons in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 94% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, cocoa powder exports rose sharply to $X in 2022. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2015 when exports increased by 64% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Russia was the key exporting country with an export of about X tons, which reached 80% of total exports. Belarus (X tons) held the second position in the ranking, distantly followed by Kazakhstan (X tons). All these countries together held near 19% share of total exports.

Russia was also the fastest-growing in terms of the cocoa powder (not sweetened) exports, with a CAGR of +23.3% from 2012 to 2022. At the same time, Belarus (+21.2%) and Kazakhstan (+18.1%) displayed positive paces of growth. From 2012 to 2022, the share of Russia increased by +4.2 percentage points.

In value terms, Russia ($X) remains the largest cocoa powder supplier in the CIS, comprising 71% of total exports. The second position in the ranking was held by Belarus ($X), with a 21% share of total exports.

In Russia, cocoa powder exports increased at an average annual rate of +14.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+16.8% per year) and Kazakhstan (+16.0% per year).

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, jumping by 20% against the previous year. Overall, the export price, however, saw a drastic downturn. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (-1.7%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in CIS

In 2022, the amount of cocoa powder (not sweetened) imported in the CIS shrank modestly to X tons, remaining constant against the year before. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +2.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cocoa powder imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Russia dominates imports structure, recording X tons, which was approx. 80% of total imports in 2022. Uzbekistan (X tons) took a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (5.5%). The following importers - Kazakhstan (X tons) and Azerbaijan (X tons) - each resulted at a 3.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa powder imports into Russia stood at +5.3%. At the same time, Azerbaijan (+26.8%), Uzbekistan (+14.0%), Belarus (+6.2%) and Kazakhstan (+5.3%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +26.8% from 2012-2022. While the share of Uzbekistan (+7.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported cocoa powder (not sweetened) in the CIS, comprising 78% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 7.4% share of total imports. It was followed by Belarus, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia was relatively modest. In the other countries, the average annual rates were as follows: Uzbekistan (+15.0% per year) and Belarus (+0.6% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, declining by -6.7% against the previous year. Overall, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. Over the period under review, 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 importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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