Slovakia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Slovakia

The Slovak cocoa powder market rose notably to $X in 2022, with an increase of 7.7% against the previous year. Overall, consumption, however, saw a slight reduction. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Slovakia

In value terms, cocoa powder production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 124%. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Slovakia

In 2022, shipments abroad of cocoa powder (not sweetened) increased by 14% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 with an increase of 50%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports rose markedly to $X in 2022. Overall, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 67%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for cocoa powder exports from Slovakia, with a 64% share of total exports. Moreover, cocoa powder exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X tons), twofold. The third position in this ranking was taken by Croatia (X tons), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic stood at +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+6.1% per year) and Croatia (+33.6% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Slovakia, comprising 68% of total exports. The second position in the ranking was taken by Hungary ($X), with a 26% share of total exports. It was followed by Croatia, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic totaled +49.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+3.2% per year) and Croatia (+32.2% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, shrinking by -6.6% against the previous year. In general, the export price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 14%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Czech Republic ($X per ton), while the average price for exports to Croatia ($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 Croatia (-1.1%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Slovakia

In 2022, the amount of cocoa powder (not sweetened) imported into Slovakia expanded markedly to X tons, increasing by 9.9% against 2021 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 10%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa powder imports expanded significantly to $X in 2022. In general, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 42%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of cocoa powder imports to Slovakia, together accounting for 76% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +19.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Slovakia were the Netherlands ($X), Germany ($X) and Spain ($X), with a combined 73% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +14.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, remaining stable against the previous year. In general, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 38%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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