Singapore: Cocoa Butter Market 2025

Cocoa Butter Market Size in Singapore

In 2022, the Singaporean cocoa butter market increased by 15% to $X, rising for the fourth year in a row after five years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +39.2% against 2018 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Cocoa Butter Production in Singapore

In value terms, cocoa butter production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 32%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Cocoa Butter Exports

Exports from Singapore

Cocoa butter exports from Singapore stood at X tons in 2022, remaining constant against 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 17% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa butter exports contracted to $X in 2022. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -25.4% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 64% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X tons), the Netherlands (X tons) and Israel (X tons) were the main destinations of cocoa butter exports from Singapore, together accounting for 44% of total exports. China, Japan, South Africa, Malaysia, Estonia, New Zealand, Russia, South Korea, Egypt and Indonesia lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +1,327.4%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the Netherlands ($X) and China ($X) were the largest markets for cocoa butter exported from Singapore worldwide, with a combined 44% share of total exports. Israel, Japan, Estonia, Malaysia, South Africa, New Zealand, Russia, South Korea, Egypt and Indonesia lagged somewhat behind, together comprising a further 49%.

Estonia, with a CAGR of +1,415.8%, saw the highest growth rate of the value of exports, among the main countries of destination 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 butter export price amounted to $X per ton, shrinking by -12.5% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price decreased by -20.4% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 57% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Estonia ($X per ton) and Egypt ($X per ton), while the average price for exports to Japan ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Singapore

Cocoa butter imports into Singapore expanded to X tons in 2022, surging by 4.4% against 2021 figures. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2019 when imports increased by 74%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa butter imports stood at $X in 2022. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 83% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of cocoa butter to Singapore, with a 88% share of total imports. Moreover, cocoa butter imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +4.6%.

In value terms, Malaysia ($X) constituted the largest supplier of cocoa butter to Singapore, comprising 89% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +11.6%.

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, remaining constant against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price decreased by -5.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 56%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.7%).

Source: IndexBox Platform

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