Romania: Cocoa Powder Market 2024

Cocoa Powder Market Size in Romania

The Romanian cocoa powder market reduced markedly to $X in 2022, waning by -16.2% against the previous year. Over the period under review, consumption showed a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Romania

In value terms, cocoa powder production declined to $X in 2022 estimated in export price. Overall, production recorded a pronounced slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 98% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Romania

In 2022, after two years of growth, there was significant decline in overseas shipments of cocoa powder (not sweetened), when their volume decreased by -24% to X tons. Overall, exports, however, enjoyed strong growth. The growth pace was the most rapid in 2021 with an increase of 168% against the previous year. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, cocoa powder exports contracted markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 114% against the previous year. As a result, the exports reached the peak of $X, and then shrank notably in the following year.

Exports by Country

Bulgaria (X tons) was the main destination for cocoa powder exports from Romania, with a 56% share of total exports. Moreover, cocoa powder exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X tons), twofold. The third position in this ranking was held by Ukraine (X tons), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Bulgaria stood at +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+64.5% per year) and Ukraine (+14.8% per year).

In value terms, the largest markets for cocoa powder exported from Romania were Bulgaria ($X), Greece ($X) and Ukraine ($X), with a combined 75% share of total exports.

Among the main countries of destination, Greece, with a CAGR of +61.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, declining by -2.3% against the previous year. In general, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bulgaria ($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 Moldova (+4.1%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Romania

In 2022, approx. X tons of cocoa powder (not sweetened) were imported into Romania; with a decrease of -19.8% against the year before. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa powder imports shrank remarkably to $X in 2022. In general, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 31%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest cocoa powder supplier to Romania, accounting for a 47% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.7% per year) and Germany (-9.0% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder (not sweetened) to Romania, comprising 48% of total imports. The second position in the ranking was taken by Spain ($X), with a 16% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+3.9% per year) and Germany (-11.9% per year).

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, dropping by -3.7% against the previous year. Overall, the import price showed a noticeable reduction. The growth pace was the most rapid in 2021 an increase of 25% against the previous year. The import price peaked 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 Belgium ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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