Indonesia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Indonesia

The Indonesian cocoa powder market skyrocketed to $X in 2022, picking up by 50% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Indonesia

In value terms, cocoa powder production stood at $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 24% against the previous year. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Indonesia

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by -12.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 25%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, cocoa powder exports totaled $X in 2022. In general, exports, however, posted a strong increase. The growth pace was the most rapid in 2020 when exports increased by 38%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X tons) was the main destination for cocoa powder exports from Indonesia, accounting for a 30% share of total exports. Moreover, cocoa powder exports to India exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.6% per year) and Malaysia (+5.5% per year).

In value terms, the largest markets for cocoa powder exported from Indonesia were India ($X), China ($X) and the Philippines ($X), with a combined 47% share of total exports. Malaysia, Russia, Australia, Thailand, Pakistan, Egypt, Mexico, Vietnam, Canada and Germany lagged somewhat behind, together accounting for a further 30%.

Vietnam, with a CAGR of +41.2%, saw the highest growth rate of 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 powder export price stood at $X per ton in 2022, rising by 21% against the previous year. In general, the export price, however, saw a pronounced contraction. Over the period under review, the average 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.6%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Indonesia

In 2022, cocoa powder imports into Indonesia expanded remarkably to X tons, growing by 14% compared with the previous year. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by 35%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa powder imports surged to $X in 2022. Overall, imports enjoyed resilient growth. The growth pace was the most rapid in 2016 when imports increased by 42% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Singapore (X tons), Malaysia (X tons) and Germany (X tons) were the main suppliers of cocoa powder imports to Indonesia, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +18.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Indonesia were Singapore ($X), Malaysia ($X) and Germany ($X), together comprising 93% of total imports.

Germany, with a CAGR of +18.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, growing by 24% against the previous year. Over the period under review, the import price, however, showed a pronounced contraction. The import price peaked 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 supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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