South-Eastern Asia: Cocoa Butter Market 2024

Cocoa Butter Market Size in South-Eastern Asia

The Southeast Asian cocoa butter market amounted to $X in 2022, growing by 2.9% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Cocoa Butter Production in South-Eastern Asia

In value terms, cocoa butter production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 25% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Cocoa Butter Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cocoa butter decreased by -0.5% to X tons for the first time since 2016, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 11% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, cocoa butter exports shrank to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 -16.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 73%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) and Malaysia (X tons) represented roughly 90% of total exports in 2022. It was distantly followed by Singapore (X tons), creating a 10% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +5.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cocoa butter supplying countries in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined 100% share of total exports.

Indonesia, with a CAGR of +9.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, shrinking by -7.7% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 -18.8% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 57%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the other leaders experienced more modest paces of growth.

Cocoa Butter Imports

Imports in South-Eastern Asia

In 2022, cocoa butter imports in South-Eastern Asia expanded rapidly to X tons, growing by 6.5% against 2021 figures. Overall, imports saw resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cocoa butter imports rose notably to $X in 2022. In general, imports posted prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 108%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Singapore (X tons) and Malaysia (X tons) represented the major importers of cocoa butter in 2022, recording near 45% and 40% of total imports, respectively. It was distantly followed by Indonesia (X tons), constituting a 10% share of total imports. Vietnam (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +67.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 96% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +54.2%, recorded the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per ton in 2022, approximately reflecting the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 -7.3% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 44%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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