Uganda: Cocoa Powder Market 2024

Cocoa Powder Market Size in Uganda

The Ugandan cocoa powder market rose to $X in 2022, with an increase of 3.1% against the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 -2.9% against 2020 indices. Cocoa powder consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Uganda

In value terms, cocoa powder production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -2.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19%. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Uganda

In 2022, after five years of growth, there was significant decline in shipments abroad of cocoa powder (not sweetened), when their volume decreased by -7% to X tons. In general, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 125%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, cocoa powder exports reduced slightly to $X in 2022. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 105%. Over the period under review, the exports hit record highs at $X in 2021, and then fell modestly in the following year.

Exports by Country

Rwanda (X tons) was the main destination for cocoa powder exports from Uganda, accounting for a 81% share of total exports. Moreover, cocoa powder exports to Rwanda exceeded the volume sent to the second major destination, Poland (X kg), more than tenfold. The third position in this ranking was held by Germany (X kg), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Rwanda stood at +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-3.1% per year) and Germany (-6.1% per year).

In value terms, Rwanda ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Uganda, comprising 93% of total exports. The second position in the ranking was held by Germany ($X), with a 2.5% share of total exports. It was followed by Poland, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Rwanda totaled +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-2.5% per year) and Poland (-22.8% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, surging by 2.9% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa powder export price decreased by -36.2% against 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of 48% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Uganda

Cocoa powder imports into Uganda surged to X tons in 2022, with an increase of 66% compared with the year before. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when imports increased by 168%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cocoa powder imports soared to $X in 2022. Over the period under review, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 285% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Lebanon (X tons), Egypt (X tons) and Turkey (X tons) were the main suppliers of cocoa powder imports to Uganda, together accounting for 60% of total imports. Kenya, Singapore, Malaysia and China lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +43.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Kenya ($X) and Lebanon ($X) were the largest cocoa powder suppliers to Uganda, together accounting for 50% of total imports. Turkey, Singapore, Malaysia and China lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, China, with a CAGR of +54.9%, recorded the highest rates of growth with regard to 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

In 2022, the average cocoa powder import price amounted to $X per ton, increasing by 6% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa powder import price decreased by -24.7% against 2018 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 43%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Kenya ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform