Colombia: Cocoa Paste Market 2025

Cocoa Paste Market Size in Colombia

In 2021, the Colombian cocoa paste market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. Cocoa paste consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cocoa Paste Production in Colombia

In value terms, cocoa paste production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports from Colombia

Cocoa paste exports from Colombia dropped slightly to X tons in 2021, with a decrease of -4.9% on 2020. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.1% against 2015 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 47%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, cocoa paste exports rose slightly to $X in 2021. Over the period under review, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2015 when exports increased by 48% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Costa Rica (X tons), Trinidad and Tobago (X tons) and Argentina (X tons) were the main destinations of cocoa paste exports from Colombia, together accounting for 49% of total exports. These countries were followed by Russia, Mexico, Peru and Turkey, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +81.8%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Trinidad and Tobago ($X) and Argentina ($X) appeared to be the largest markets for cocoa paste exported from Colombia worldwide, with a combined 47% share of total exports. These countries were followed by Russia, Mexico, Peru and Turkey, which together accounted for a further 36%.

Peru, with a CAGR of +82.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa paste export price stood at $X per ton in 2021, increasing by 8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Argentina ($X per ton) and Russia ($X per ton), while the average price for exports to Costa Rica ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Paste Imports

Imports into Colombia

Cocoa paste imports into Colombia dropped remarkably to X tons in 2021, waning by -33.7% against the previous year. Over the period under review, imports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 1,089%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cocoa paste imports contracted markedly to $X in 2021. Overall, imports faced a significant contraction. The growth pace was the most rapid in 2016 with an increase of 848%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Peru (X tons) constituted the largest supplier of cocoa paste to Colombia, accounting for a 83% share of total imports. Moreover, cocoa paste imports from Peru exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from Peru was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+965.7% per year) and Italy (-15.1% per year).

In value terms, Peru ($X) constituted the largest supplier of cocoa paste to Colombia, comprising 71% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports. It was followed by Italy, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Peru stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+646.5% per year) and Italy (-13.0% per year).

Import Prices by Country

The average cocoa paste import price stood at $X per ton in 2021, growing by 14% against the previous year. Overall, the import price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 46% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, 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 Italy ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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