Malaysia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Malaysia

The Malaysian cocoa powder market fell rapidly to $X in 2022, waning by -34.9% against the previous year. Over the period under review, consumption showed a perceptible downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Cocoa Powder Production in Malaysia

In value terms, cocoa powder production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 20%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Malaysia

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -4.6% to X tons for the first time since 2017, thus ending a four-year rising trend. The total export volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 17%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, cocoa powder exports reduced to $X in 2022. Over the period under review, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by 22% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Thailand (X tons) and the Philippines (X tons) were the main destinations of cocoa powder exports from Malaysia, together accounting for 33% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +20.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the Philippines ($X) constituted the largest markets for cocoa powder exported from Malaysia worldwide, together accounting for 36% of total exports. Japan, Thailand, Indonesia, Australia, Russia, Egypt, Singapore, Pakistan, Vietnam and the United Arab Emirates lagged somewhat behind, together accounting for a further 43%.

Thailand, with a CAGR of +9.2%, saw the highest growth rate of the value of exports, in terms of 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, dropping by -4.2% against the previous year. In general, the export price saw a deep contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 12%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Russia ($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 Egypt (-4.0%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Malaysia

In 2022, cocoa powder imports into Malaysia soared to X tons, picking up by 35% against the previous year's figure. Overall, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 100%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa powder imports expanded markedly to $X in 2022. In general, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 100% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of cocoa powder to Malaysia, with a 68% share of total imports. Moreover, cocoa powder imports from Indonesia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The third position in this ranking was taken by Nigeria (X tons), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-12.2% per year) and Nigeria (+27.6% per year).

In value terms, Indonesia ($X) constituted the largest supplier of cocoa powder (not sweetened) to Malaysia, comprising 63% of total imports. The second position in the ranking was taken by Singapore ($X), with a 24% share of total imports. It was followed by Brazil, with a 1.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-12.8% per year) and Brazil (-7.3% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, reducing by -21.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2021 when the average import price increased by 26%. Over the period under review, average import prices attained the maximum 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 Singapore ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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