Jordan: Cocoa Powder Market 2024

Cocoa Powder Market Size in Jordan

In 2022, after two years of growth, there was decline in the Jordanian cocoa powder market, when its value decreased by -1.2% to $X. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then dropped modestly in the following year.

Cocoa Powder Production in Jordan

In value terms, cocoa powder production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.1% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 90% against the previous year. Cocoa powder production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports from Jordan

After two years of growth, shipments abroad of cocoa powder (not sweetened) decreased by -18.3% to X tons in 2022. Overall, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 164% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports shrank to $X in 2022. In general, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 179% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for cocoa powder exports from Jordan, with a 42% share of total exports. Moreover, cocoa powder exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Iraq (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+93.7% per year) and Iraq (-6.6% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Jordan, comprising 42% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Iraq, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+110.6% per year) and Iraq (+2.5% per year).

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, surging by 7.8% against the previous year. In general, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 an increase of 180% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Oman ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Kuwait ($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 Iraq (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Jordan

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by -12.5% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 -17.5% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 29%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cocoa powder to Jordan, accounting for a 65% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. Malaysia (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.5% per year) and Malaysia (-8.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder (not sweetened) to Jordan, comprising 65% of total imports. The second position in the ranking was held by Spain ($X), with a 15% share of total imports. It was followed by Malaysia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+4.7% per year) and Malaysia (-8.2% per year).

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, with an increase of 9.2% against the previous year. In general, the import price, however, showed a perceptible decline. The pace of growth was the most pronounced in 2021 an increase of 15% against the previous year. 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 countries with the highest prices were Ghana ($X per ton) and Malaysia ($X per ton), while the price for the UK ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform