Ecuador: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Ecuador

The Ecuadorian cocoa powder with sugar market reached $X in 2021, stabilizing at the previous year. In general, consumption, however, continues to indicate a mild slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in Ecuador

In value terms, cocoa powder with sugar production stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 30% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Ecuador

In 2021, after two years of decline, there was significant growth in shipments abroad of cocoa powder (containing added sugar), when their volume increased by 62% to X tons. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 150% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, cocoa powder with sugar exports skyrocketed to $X in 2021. Over the period under review, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 119%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for cocoa powder with sugar exports from Ecuador, accounting for a 77% share of total exports. Moreover, cocoa powder with sugar exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), sixfold. The third position in this ranking was taken by Colombia (X tons), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+138.9% per year) and Colombia (-6.2% per year).

In value terms, the United States ($X) remains the key foreign market for cocoa powder (containing added sugar) exports from Ecuador, comprising 71% of total exports. The second position in the ranking was held by the UK ($X), with a 16% share of total exports. It was followed by Serbia, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+114.6% per year) and Serbia (+12.0% per year).

Export Prices by Country

In 2021, the average cocoa powder with sugar export price amounted to $X per ton, declining by -10.3% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar export price increased by +69.3% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 65%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Ecuador

In 2021, overseas purchases of cocoa powder (containing added sugar) increased by 5.1% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a sharp slump. The pace of growth was the most pronounced in 2017 when imports increased by 395%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports reduced modestly to $X in 2021. Overall, imports, however, saw a precipitous contraction. The growth pace was the most rapid in 2017 with an increase of 303% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Chile (X tons) constituted the largest supplier of cocoa powder with sugar to Ecuador, with a 85% share of total imports. Moreover, cocoa powder with sugar imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Chile totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.3% per year) and Spain (-30.8% per year).

In value terms, Chile ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Ecuador, comprising 71% of total imports. The second position in the ranking was taken by the United States ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.8% per year) and Spain (-37.6% per year).

Import Prices by Country

In 2021, the average cocoa powder with sugar import price amounted to $X per ton, reducing by -7.1% against the previous year. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2019 an increase of 39%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, 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 the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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