Oman: Cocoa Powder Market 2024

Cocoa Powder Market Size in Oman

The Omani cocoa powder market rose slightly to $X in 2022, increasing by 4.1% against the previous year. In general, consumption posted a prominent increase. Cocoa powder consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Oman

In value terms, cocoa powder production totaled $X in 2022 estimated in export price. In general, production saw strong growth. The growth pace was the most rapid in 2019 when the production volume increased by 102%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Oman

In 2022, shipments abroad of cocoa powder (not sweetened) increased by 645% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed significant growth. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports skyrocketed to $X in 2022. Overall, exports showed significant growth. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X tons) was the main destination for cocoa powder exports from Oman, accounting for a 97% share of total exports. It was followed by Ethiopia (X kg), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran stood at +75.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+30.7% per year) and Qatar (-26.5% per year).

In value terms, Iran ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Oman, comprising 97% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Iran amounted to +105.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+42.3% per year) and Qatar (-18.2% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, growing by 6.5% against the previous year. In general, the export price, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2013 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Qatar ($X per ton), while the average price for exports to Ethiopia ($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 Iran (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Oman

In 2022, approx. X tons of cocoa powder (not sweetened) were imported into Oman; declining by -19.1% compared with the year before. Overall, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 101% against the previous year. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, cocoa powder imports dropped markedly to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 96%. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of cocoa powder to Oman, accounting for a 43% share of total imports. Moreover, cocoa powder imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+85.3% per year) and Malaysia (+0.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cocoa powder (not sweetened) to Oman, comprising 59% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.6% share of total imports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled +39.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.3% per year) and China (+84.9% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, shrinking by -6.7% against the previous year. Overall, the import price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 an increase of 30%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :