Uganda: Cocoa Paste Market 2024

Cocoa Paste Market Size in Uganda

The Ugandan cocoa paste market reached $X in 2022, approximately mirroring the previous year. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.1% against 2020 indices. Cocoa paste consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cocoa Paste Production in Uganda

In value terms, cocoa paste production stood at $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 122% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Paste Exports

Exports from Uganda

In 2022, shipments abroad of cocoa paste increased by 8.9% to X tons, rising for the fourth year in a row after six years of decline. Over the period under review, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of 31% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa paste exports rose remarkably to $X in 2022. Overall, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 99.9% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for cocoa paste exports from Uganda, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -4.9%.

In value terms, the United States ($X) also remains the key foreign market for cocoa paste exports from Uganda.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -6.2%.

Export Prices by Country

In 2022, the average cocoa paste export price amounted to $X per ton, with an increase of 2.4% against the previous year. Overall, the export price, however, recorded a mild slump. The growth pace was the most rapid in 2019 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -1.4% per year.

Cocoa Paste Imports

Imports into Uganda

For the third year in a row, Uganda recorded growth in supplies from abroad of cocoa paste, which increased by 0.5% to X tons in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 466% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, cocoa paste imports stood at $X in 2022. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 560% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest cocoa paste supplier to Uganda, accounting for a 75% share of total imports. Moreover, cocoa paste imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled +11.2%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cocoa paste to Uganda, comprising 84% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled +32.7%.

Import Prices by Country

In 2022, the average cocoa paste import price amounted to $X per ton, approximately mirroring the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa paste import price increased by +96.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 66% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform