Thailand: Cocoa Paste Market 2025

Cocoa Paste Market Size in Thailand

The Thai cocoa paste market fell to $X in 2021, waning by -2.2% against the previous year. Overall, consumption saw a mild decrease. The pace of growth was the most pronounced in 2018 when the market value increased by 6.8% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cocoa Paste Production in Thailand

In value terms, cocoa paste production declined to $X in 2021 estimated in export price. In general, production recorded a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 6.4%. Cocoa paste production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports from Thailand

In 2021, exports of cocoa paste from Thailand fell markedly to X tons, reducing by -64.5% on 2020. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 44,334%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, cocoa paste exports declined rapidly to $X in 2021. In general, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 65,156% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for cocoa paste exports from Thailand, with a 97% share of total exports. It was followed by Hong Kong SAR (X kg), with a 2.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia amounted to -3.4%.

In value terms, Malaysia ($X) emerged as the key foreign market for cocoa paste exports from Thailand, comprising 95% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia was relatively modest.

Export Prices by Country

In 2021, the average cocoa paste export price amounted to $X per ton, surging by 71% against the previous year. Overall, the export price continues to indicate temperate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Paste Imports

Imports into Thailand

Cocoa paste imports into Thailand soared to X tons in 2021, increasing by 22% against 2020 figures. Over the period under review, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 47%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, cocoa paste imports skyrocketed to $X in 2021. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest cocoa paste supplier to Thailand, with a 67% share of total imports. Moreover, cocoa paste imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), sixfold. Ghana (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at -9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-1.6% per year) and Ghana (+42.3% per year).

In value terms, Malaysia ($X) constituted the largest supplier of cocoa paste to Thailand, comprising 71% of total imports. The second position in the ranking was held by Singapore ($X), with a 9.9% share of total imports. It was followed by Ghana, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-1.5% per year) and Ghana (+41.3% per year).

Import Prices by Country

In 2021, the average cocoa paste import price amounted to $X per ton, falling by -3.4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 69% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Singapore ($X per ton), while the price for Indonesia ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :