Egypt: Cocoa Powder Market 2024

Cocoa Powder Market Size in Egypt

The Egyptian cocoa powder market shrank to $X in 2022, which is down by -13.2% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Cocoa Powder Production in Egypt

In value terms, cocoa powder production dropped to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by 6.2% against the previous year. Cocoa powder production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Egypt

In 2022, shipments abroad of cocoa powder (not sweetened) increased by 1,341% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 1,350%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa powder exports surged to $X in 2022. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Kenya (X tons) was the main destination for cocoa powder exports from Egypt, accounting for a 87% share of total exports. Moreover, cocoa powder exports to Kenya exceeded the volume sent to the second major destination, Morocco (X tons), more than tenfold. The third position in this ranking was taken by Uganda (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Kenya amounted to +56.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (-7.3% per year) and Uganda (0.0% per year).

In value terms, Kenya ($X) emerged as the key foreign market for cocoa powder (not sweetened) exports from Egypt, comprising 87% of total exports. The second position in the ranking was held by Morocco ($X), with a 4.1% share of total exports. It was followed by Uganda, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to Kenya amounted to +56.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+4.1% per year) and Uganda (0.0% per year).

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, increasing by 5% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2017 when the average export price increased by 162%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Uganda ($X per ton) and Tanzania ($X per ton), while the average price for exports to Kenya ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+12.2%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Egypt

In 2022, cocoa powder imports into Egypt dropped dramatically to X tons, with a decrease of -16.4% on 2021. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.6% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 55% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports fell to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +14.0% against 2016 indices. The growth pace was the most rapid in 2016 when imports increased by 34%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Malaysia (X tons), Spain (X tons) and the Netherlands (X tons) were the main suppliers of cocoa powder imports to Egypt, together comprising 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Spain ($X) and the Netherlands ($X) were the largest cocoa powder suppliers to Egypt, together comprising 63% of total imports. Indonesia, Germany, France, Ghana and Turkey lagged somewhat behind, together accounting for a further 31%.

In terms of the main suppliers, Indonesia, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, rising by 8.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ghana ($X per ton) and Indonesia ($X per ton), while the price for France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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