Morocco: Cocoa Powder Market 2024

Cocoa Powder Market Size in Morocco

In 2022, the Moroccan cocoa powder market decreased by -1.6% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then contracted slightly in the following year.

Cocoa Powder Production in Morocco

In value terms, cocoa powder production rose significantly to $X in 2022 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 92% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Morocco

After three years of growth, shipments abroad of cocoa powder (not sweetened) decreased by -68.5% to X kg in 2022. Over the period under review, exports recorded a sharp decrease. The growth pace was the most rapid in 2017 when exports increased by 19,200%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cocoa powder exports dropped significantly to $X in 2022. In general, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 17,900% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Mauritania (X kg) was the main destination for cocoa powder exports from Morocco, with a 98% share of total exports. It was followed by France (X kg), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mauritania totaled +75.0%.

In value terms, Mauritania ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Morocco, comprising 99% of total exports. The second position in the ranking was taken by France ($X), with a 1.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Mauritania totaled +188.0%.

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, picking up by 48% against the previous year. Overall, the export price recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 391%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while the average price for exports to France amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+175.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Morocco

In 2022, the amount of cocoa powder (not sweetened) imported into Morocco dropped to X tons, waning by -8.4% against 2021. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, cocoa powder imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 66% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of cocoa powder to Morocco, accounting for a 51% share of total imports. Moreover, cocoa powder imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Ghana (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.3% per year) and Ghana (+34.2% per year).

In value terms, Spain ($X) constituted the largest supplier of cocoa powder (not sweetened) to Morocco, comprising 49% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total imports. It was followed by Ghana, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.1% per year) and Ghana (+40.4% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, rising by 3.9% against the previous year. Over the period under review, the import price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. 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 Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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