Southern Asia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Southern Asia

The South Asian cocoa paste market reduced modestly to $X in 2021, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +3.6% 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 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Cocoa Paste Production in Southern Asia

In value terms, cocoa paste production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 15%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Cocoa Paste Exports

Exports in Southern Asia

In 2021, after three years of growth, there was significant decline in shipments abroad of cocoa paste, when their volume decreased by -18.1% to X tons. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 846% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa paste exports fell to $X in 2021. In general, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 775% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Sri Lanka (X tons) and India (X tons), together recording 99% of total export.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +73.9%).

In value terms, the largest cocoa paste supplying countries in Southern Asia were India ($X) and Sri Lanka ($X).

In terms of the main exporting countries, India, with a CAGR of +86.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 7.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 34%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.0%).

Cocoa Paste Imports

Imports in Southern Asia

In 2021, supplies from abroad of cocoa paste was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, cocoa paste imports soared to $X in 2021. Overall, imports, however, recorded a perceptible curtailment. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India represented the main importer of cocoa paste in Southern Asia, with the volume of imports recording X tons, which was approx. 81% of total imports in 2021. It was distantly followed by Pakistan (X tons), committing a 12% share of total imports. The following importers - Sri Lanka (X tons) and Bangladesh (X tons) - each recorded a 7.4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cocoa paste imports into India stood at -2.4%. At the same time, Sri Lanka (+21.3%), Bangladesh (+16.5%) and Pakistan (+10.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +21.3% from 2012-2021. Pakistan (+7.1 p.p.), Sri Lanka (+3.2 p.p.) and Bangladesh (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -13% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported cocoa paste in Southern Asia, comprising 82% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 12% share of total imports. It was followed by Bangladesh, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value in India stood at -4.2%. In the other countries, the average annual rates were as follows: Pakistan (+9.7% per year) and Bangladesh (+19.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price saw a slight downturn. The growth pace was the most rapid in 2014 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Pakistan ($X per ton) and India ($X per ton), while Sri Lanka ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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