Oman: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Oman

The Omani cocoa powder with sugar market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.0% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Oman

In value terms, cocoa powder with sugar production soared to $X in 2021 estimated in export price. In general, production recorded a mild expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 110% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Oman

For the third year in a row, Oman recorded decline in shipments abroad of cocoa powder (containing added sugar), which decreased by -99.1% to X kg in 2021. In general, exports faced a significant contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 441% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports contracted notably to $X in 2021. Overall, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2018 with an increase of 439% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Yemen (X kg) was the main destination for cocoa powder with sugar exports from Oman, accounting for a 84% share of total exports. Moreover, cocoa powder with sugar exports to Yemen exceeded the volume sent to the second major destination, Qatar (X kg), ninefold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen amounted to -93.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-46.1% per year) and the United Arab Emirates (-42.3% per year).

In value terms, the largest markets for cocoa powder with sugar exported from Oman were Yemen ($X), Qatar ($X) and India ($X), together comprising 92% of total exports. These countries were followed by the United Arab Emirates, Kuwait, Bahrain and Somalia, which together accounted for a further 6%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of -39.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average cocoa powder with sugar export price stood at $X per ton in 2021, growing by 7.2% against the previous year. In general, the export price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 an increase of 10% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Somalia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Oman

In 2021, the amount of cocoa powder (containing added sugar) imported into Oman shrank dramatically to X tons, with a decrease of -54.9% compared with 2020 figures. In general, imports recorded a pronounced slump. The growth pace was the most rapid in 2016 when imports increased by 1,287%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, cocoa powder with sugar imports reduced markedly to $X in 2021. Overall, imports, however, showed a mild increase. The growth pace was the most rapid in 2016 when imports increased by 773% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of cocoa powder with sugar to Oman, accounting for a 50% share of total imports. Moreover, cocoa powder with sugar imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-12.4% per year) and Italy (-5.3% per year).

In value terms, Turkey ($X), the United Arab Emirates ($X) and Italy ($X) appeared to be the largest cocoa powder with sugar suppliers to Oman, together comprising 63% of total imports. Egypt, Algeria, Kuwait, Saudi Arabia, China, Pakistan and Iran lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, Kuwait, with a CAGR of +43.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2021, jumping by 17% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by 63%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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