SADC: Cocoa Paste Market 2024

Cocoa Paste Market Size in SADC

In 2021, after three years of growth, there was significant decline in the SADC cocoa paste market, when its value decreased by -5.2% to $X. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Cocoa Paste Production in SADC

In value terms, cocoa paste production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 24% against the previous year. The level of production peaked at $X in 2013; afterwards, it flattened through to 2021.

Cocoa Paste Exports

Exports in SADC

In 2021, shipments abroad of cocoa paste was finally on the rise to reach X tons after four years of decline. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2016 with an increase of 171%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, cocoa paste exports soared to $X in 2021. In general, exports saw a prominent increase. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Madagascar was the key exporter of cocoa paste in SADC, with the volume of exports resulting at X tons, which was near 53% of total exports in 2021. Tanzania (X tons) took the second position in the ranking, distantly followed by Mauritius (X tons). All these countries together took approx. 43% share of total exports. South Africa (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mauritius (with a CAGR of +125.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Madagascar ($X), Tanzania ($X) and Mauritius ($X) constituted the countries with the highest levels of exports in 2021, with a combined 95% share of total exports.

Among the main exporting countries, Mauritius, with a CAGR of +115.2%, saw 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 2021, the export price in SADC amounted to $X per ton, with a decrease of -2.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 39%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+2.5%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in SADC

In 2021, cocoa paste imports in SADC rose markedly to X tons, surging by 10% on 2020 figures. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 14%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, cocoa paste imports expanded notably to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +39.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 58%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Africa prevails in imports structure, resulting at X tons, which was near 96% of total imports in 2021. Madagascar (X tons) took a little share of total imports.

Imports into South Africa increased at an average annual rate of +1.0% from 2012 to 2021. At the same time, Madagascar (+13.1%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing importer imported in SADC, with a CAGR of +13.1% from 2012-2021. While the share of Madagascar (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-1.9 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported cocoa paste in SADC, comprising 97% of total imports. The second position in the ranking was held by Madagascar ($X), with a 1.3% share of total imports.

In South Africa, cocoa paste imports increased at an average annual rate of +2.4% over the period from 2012-2021.

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2014 an increase of 39%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while Madagascar totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+1.3%).

Source: IndexBox Platform