Ukraine: Cocoa Powder Market 2024

Cocoa Powder Market Size in Ukraine

After two years of growth, the Ukrainian cocoa powder market decreased by -18% to $X in 2022. In general, consumption recorded a drastic downturn. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Ukraine

In value terms, cocoa powder production reduced slightly to $X in 2022 estimated in export price. In general, production showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Cocoa powder production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Ukraine

After two years of growth, overseas shipments of cocoa powder (not sweetened) decreased by -52.2% to X tons in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 217%. The exports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, cocoa powder exports contracted notably to $X in 2022. In general, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 101% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Iran (X tons) was the main destination for cocoa powder exports from Ukraine, accounting for a 28% share of total exports. Moreover, cocoa powder exports to Iran exceeded the volume sent to the second major destination, Turkey (X tons), twofold. Estonia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran stood at +61.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+405.2% per year) and Estonia (+15.7% per year).

In value terms, Iran ($X), Turkey ($X) and Moldova ($X) were the largest markets for cocoa powder exported from Ukraine worldwide, together comprising 39% of total exports.

Turkey, with a CAGR of +306.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, growing by 41% against the previous year. Overall, the export price, however, saw a drastic downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Iraq ($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 Georgia (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Ukraine

After two years of growth, supplies from abroad of cocoa powder (not sweetened) decreased by -23.6% to X tons in 2022. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2016 when imports increased by 18% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports dropped markedly to $X in 2022. Overall, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by 43% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Ghana (X tons) were the main suppliers of cocoa powder imports to Ukraine, together accounting for 64% of total imports. Cote d'Ivoire, Indonesia, Malaysia and Spain lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +15.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), the Netherlands ($X) and Cote d'Ivoire ($X) constituted the largest cocoa powder suppliers to Ukraine, with a combined 62% share of total imports. Ghana, Indonesia, Malaysia and Spain lagged somewhat behind, together comprising a further 35%.

In terms of the main suppliers, Indonesia, with a CAGR of +15.6%, 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 a decline.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, with an increase of 5.5% against the previous year. In general, the import price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Ghana ($X per ton) and Germany ($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 (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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