Southern Asia: Cocoa Butter Market 2024

Cocoa Butter Market Size in Southern Asia

The South Asian cocoa butter market contracted slightly to $X in 2022, approximately mirroring the previous year. In general, consumption, however, continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Butter Production in Southern Asia

In value terms, cocoa butter production dropped slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports in Southern Asia

After two years of decline, overseas shipments of cocoa butter increased by 11% to X tons in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 62%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports reached $X in 2022. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 152%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) represented roughly 99.9% of total exports in 2022.

India was also the fastest-growing in terms of the cocoa butter exports, with a CAGR of +9.0% from 2012 to 2022. India (+6.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest cocoa butter supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India totaled +13.4%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, reducing by -10.2% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 -24.3% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 56% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +4.0% per year.

Cocoa Butter Imports

Imports in Southern Asia

In 2022, the amount of cocoa butter imported in Southern Asia skyrocketed to X tons, picking up by 40% compared with 2021. Overall, imports posted a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 100%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, cocoa butter imports stood at $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 183% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

India prevails in imports structure, finishing at X tons, which was approx. 95% of total imports in 2022. Pakistan (X tons) took a minor share of total imports.

India was also the fastest-growing in terms of the cocoa butter imports, with a CAGR of +34.1% from 2012 to 2022. At the same time, Pakistan (+7.5%) displayed positive paces of growth. From 2012 to 2022, the share of India increased by +28 percentage points.

In value terms, India ($X) constitutes the largest market for imported cocoa butter in Southern Asia, comprising 95% of total imports. The second position in the ranking was held by Pakistan ($X), with a 4.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India totaled +38.5%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with a decrease of -20.1% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 -25.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 42%. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.2%).

Source: IndexBox Platform

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