Kenya: Cocoa Powder Market 2024

Cocoa Powder Market Size in Kenya

In 2022, the Kenyan cocoa powder market decreased by -1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a strong increase. Over the period under review, the market attained the maximum level at $X in 2021, and then fell modestly in the following year.

Cocoa Powder Production in Kenya

In value terms, cocoa powder production reached $X in 2022 estimated in export price. Over the period under review, production showed strong growth. The growth pace was the most rapid in 2013 when the production volume increased by 86% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Kenya

In 2022, exports of cocoa powder (not sweetened) from Kenya declined remarkably to X tons, which is down by -21.6% against the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 124%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, cocoa powder exports declined to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 106%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons) was the main destination for cocoa powder exports from Kenya, accounting for a 43% share of total exports. Moreover, cocoa powder exports to Tanzania exceeded the volume sent to the second major destination, Uganda (X tons), twofold. The third position in this ranking was held by Rwanda (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Tanzania amounted to +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+3.9% per year) and Rwanda (+45.4% per year).

In value terms, Tanzania ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Kenya, comprising 53% of total exports. The second position in the ranking was held by Uganda ($X), with a 20% share of total exports. It was followed by Zambia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Tanzania totaled +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-1.2% per year) and Zambia (-15.5% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, jumping by 15% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 54% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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 Tanzania ($X per ton), while the average price for exports to Rwanda ($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 South Sudan (+18.7%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Kenya

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by -7.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a notable increase. The pace of growth was the most pronounced in 2017 with an increase of 127% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports fell to $X in 2022. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 144%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The UK (X tons), Ghana (X tons) and Egypt (X tons) were the main suppliers of cocoa powder imports to Kenya, with a combined 80% share of total imports. Malaysia, Indonesia, China, Spain and the Netherlands lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +48.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Kenya were the UK ($X), Egypt ($X) and Ghana ($X), with a combined 82% share of total imports. Malaysia, Indonesia, Spain, the Netherlands and China lagged somewhat behind, together accounting for a further 15%.

China, with a CAGR of +40.4%, recorded the highest rates of growth with regard to 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

In 2022, the average cocoa powder import price amounted to $X per ton, with a decrease of -6.7% against the previous year. Over the period under review, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of 19%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Netherlands ($X per ton), while the price for China ($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 Netherlands (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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