New Zealand: Cocoa Butter Market 2024

Cocoa Butter Market Size in New Zealand

The New Zealand cocoa butter market declined sharply to $X in 2022, dropping by -27.3% against the previous year. Over the period under review, consumption saw a deep downturn. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in New Zealand

In value terms, cocoa butter production fell remarkably to $X in 2022 estimated in export price. In general, production saw a deep slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by 270% against the previous year. Cocoa butter production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Cocoa Butter Exports

Exports from New Zealand

In 2022, overseas shipments of cocoa butter increased by 132% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 32,369%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa butter exports surged to $X in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 28,808%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Samoa (X tons) was the main destination for cocoa butter exports from New Zealand, accounting for a 74% share of total exports. Moreover, cocoa butter exports to Samoa exceeded the volume sent to the second major destination, Australia (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Samoa stood at +17.2%.

In value terms, Samoa ($X) emerged as the key foreign market for cocoa butter exports from New Zealand, comprising 69% of total exports. The second position in the ranking was taken by Australia ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Samoa amounted to +15.0%.

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, surging by 3.3% against the previous year. In general, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 36% against the previous year. 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.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Samoa stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+23.1%), while the prices for the other major destinations experienced a decline.

Cocoa Butter Imports

Imports into New Zealand

In 2022, purchases abroad of cocoa butter decreased by -15.3% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a pronounced slump. The most prominent rate of growth was recorded in 2020 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cocoa butter imports dropped remarkably to $X in 2022. Over the period under review, imports saw a mild contraction. The pace of growth was the most pronounced in 2014 when imports increased by 70%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Singapore (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of cocoa butter imports to New Zealand, together comprising 93% of total imports. Ghana lagged somewhat behind, accounting for a further 5%.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +17.0%), while purchases for the other leaders experienced a decline.

In value terms, Singapore ($X), Malaysia ($X) and Indonesia ($X) were the largest cocoa butter suppliers to New Zealand, together comprising 93% of total imports. Ghana lagged somewhat behind, comprising a further 4.5%.

Ghana, with a CAGR of +18.0%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, declining by -13.2% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 decreased by -20.3% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 70%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Singapore ($X per ton), while the price for Ghana ($X per ton) and Malaysia ($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 (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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