Iran: Cocoa Butter Market 2024

Cocoa Butter Market Size in Iran

The Iranian cocoa butter market was estimated at $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, recorded a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Cocoa Butter Production in Iran

In value terms, cocoa butter production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a mild contraction. The pace of growth was the most pronounced in 2013 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Cocoa Butter Exports

Exports from Iran

In 2022, shipments abroad of cocoa butter was finally on the rise to reach X tons after five years of decline. Over the period under review, exports, however, recorded a sharp downturn. The most prominent rate of growth was recorded in 2013 with an increase of 351%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports surged to $X in 2022. In general, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 751%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for cocoa butter exports from Iran, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to -21.7%.

In value terms, Turkey ($X) also remains the key foreign market for cocoa butter exports from Iran.

From 2012 to 2022, the average annual growth rate of value to Turkey stood at -16.3%.

Export Prices by Country

In 2022, the average cocoa butter export price amounted to $X per ton, dropping by -2.7% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price increased by +47.7% against 2016 indices. The pace of growth was the most pronounced in 2013 an increase of 89%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +51.4% per year.

Cocoa Butter Imports

Imports into Iran

In 2022, approx. X tons of cocoa butter were imported into Iran; waning by -22% against 2021. In general, imports saw a mild reduction. The pace of growth was the most pronounced in 2019 when imports increased by 105%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa butter imports shrank sharply to $X in 2022. Over the period under review, imports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 91%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest cocoa butter supplier to Iran, accounting for a 41% share of total imports. Moreover, cocoa butter imports from Turkey exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.3% per year) and the Netherlands (-8.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of cocoa butter to Iran, comprising 48% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+37.7% per year) and the Netherlands (-7.7% per year).

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, approximately mirroring the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price increased by +6.2% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 36% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Malaysia ($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 Arab Emirates (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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