Portugal: Cocoa Paste Market 2025

Cocoa Paste Market Size in Portugal

After three years of growth, the Portuguese cocoa paste market decreased by -14% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell in the following year.

Cocoa Paste Production in Portugal

In value terms, cocoa paste production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a slight decrease. The most prominent rate of growth was recorded in 2020 with an increase of 40%. As a result, production reached the peak level of $X, and then dropped in the following year.

Cocoa Paste Exports

Exports from Portugal

In 2021, after three years of decline, there was significant growth in shipments abroad of cocoa paste, when their volume increased by 69% to X tons. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 20,433% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, cocoa paste exports soared to $X in 2021. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2015 with an increase of 9,545%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Angola (X tons) was the main destination for cocoa paste exports from Portugal, accounting for a 49% share of total exports. Moreover, cocoa paste exports to Angola exceeded the volume sent to the second major destination, Sao Tome and Principe (X kg), threefold. Spain (X kg) ranked third in terms of total exports with a 14% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Angola totaled +58.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sao Tome and Principe (+22.6% per year) and Spain (+59.0% per year).

In value terms, Angola ($X) remains the key foreign market for cocoa paste exports from Portugal, comprising 65% of total exports. The second position in the ranking was held by Cabo Verde ($X), with an 8.7% share of total exports. It was followed by Sao Tome and Principe, with an 8.3% share.

From 2013 to 2021, the average annual rate of growth in terms of value to Angola stood at +65.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (+49.8% per year) and Sao Tome and Principe (+22.8% per year).

Export Prices by Country

The average cocoa paste export price stood at $X per ton in 2021, increasing by 4.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 411% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+26.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Paste Imports

Imports into Portugal

In 2021, after three years of growth, there was significant decline in overseas purchases of cocoa paste, when their volume decreased by -11.7% to X tons. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 32%. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, cocoa paste imports fell to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Over the period under review, imports reached the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Cote d'Ivoire (X tons) was the main cocoa paste supplier to Portugal, accounting for a 96% share of total imports. It was followed by France (X tons), with a 2.3% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Cote d'Ivoire totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+71.5% per year) and Spain (-48.4% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa paste to Portugal, comprising 96% of total imports. The second position in the ranking was held by France ($X), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Cote d'Ivoire stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+51.9% per year) and Spain (-46.5% per year).

Import Prices by Country

The average cocoa paste import price stood at $X per ton in 2021, with an increase of 2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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