Ukraine: Cocoa Butter Market 2024

Cocoa Butter Market Size in Ukraine

In 2022, after three years of growth, there was significant decline in the Ukrainian cocoa butter market, when its value decreased by -16.1% to $X. Over the period under review, consumption showed a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in Ukraine

In value terms, cocoa butter production expanded sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2019 when the production volume increased by 62% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports from Ukraine

In 2022, shipments abroad of cocoa butter decreased by -35.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed resilient growth. The growth pace was the most rapid in 2020 with an increase of 3,812%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports declined sharply to $X in 2022. In general, exports, however, saw moderate growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,078%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for cocoa butter exports from Ukraine, with a 81% share of total exports. Moreover, cocoa butter exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), sevenfold. The third position in this ranking was held by Germany (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at +178.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+134.5% per year) and Germany (-34.6% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for cocoa butter exports from Ukraine, comprising 59% of total exports. The second position in the ranking was taken by Estonia ($X), with a 27% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to +150.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+117.0% per year) and Germany (-28.0% per year).

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, dropping by -36.1% against the previous year. Overall, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of 41%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Lithuania ($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 Germany (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Butter Imports

Imports into Ukraine

In 2022, imports of cocoa butter into Ukraine contracted significantly to X tons, shrinking by -43.4% compared with the year before. In general, imports saw a pronounced slump. The pace of growth was the most pronounced in 2018 with an increase of 40%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa butter imports shrank sharply to $X in 2022. Over the period under review, imports continue to indicate a mild descent. The pace of growth was the most pronounced in 2018 when imports increased by 44%. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Singapore (X tons) were the main suppliers of cocoa butter imports to Ukraine, together accounting for 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Singapore ($X) constituted the largest cocoa butter suppliers to Ukraine, together comprising 68% of total imports.

Germany, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa butter import price stood at $X per ton in 2022, shrinking by -12.6% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 -15.1% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 53%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Germany ($X per ton), while the price for Nigeria ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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