Uzbekistan: Chocolate Market 2024

Chocolate Exports

Exports from Uzbekistan

In 2022, overseas shipments of chocolate and other food preparations containing cocoa were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2019 with an increase of 11,380% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, chocolate exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 8,407% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Kyrgyzstan (X tons) was the main destination for chocolate exports from Uzbekistan, accounting for a 69% share of total exports. Moreover, chocolate exports to Kyrgyzstan exceeded the volume sent to the second major destination, Tajikistan (X tons), fourfold.

From 2018 to 2022, the average annual rate of growth in terms of volume to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Tajikistan (0.0% per year) and Mongolia (0.0% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for chocolate and other food preparations containing cocoa exports from Uzbekistan, comprising 81% of total exports. The second position in the ranking was taken by Mongolia ($X), with a 12% share of total exports.

From 2018 to 2022, the average annual growth rate of value to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mongolia (0.0% per year) and Tajikistan (0.0% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, declining by -40.2% against the previous year. In general, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2021 when the average export price increased by 143% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank notably in the following year.

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

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-25.9%).

Chocolate Imports

Imports into Uzbekistan

For the sixth consecutive year, Uzbekistan recorded growth in supplies from abroad of chocolate and other food preparations containing cocoa, which increased by 22% to X tons in 2022. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 950% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, chocolate imports skyrocketed to $X in 2022. Overall, imports continue to indicate significant growth. The growth pace was the most rapid in 2018 when imports increased by 711%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of chocolate to Uzbekistan, with a 70% share of total imports. Moreover, chocolate imports from Russia exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was held by Belgium (X tons), with an 8% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from Russia stood at +300.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Belgium (+73.4% per year).

In value terms, Russia ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Uzbekistan, comprising 70% of total imports. The second position in the ranking was taken by Belgium ($X), with a 10% share of total imports. It was followed by Lithuania, with an 8.9% share.

From 2017 to 2022, the average annual rate of growth in terms of value from Russia totaled +355.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+71.9% per year) and Lithuania (+296.2% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, surging by 11% against the previous year. In general, import price indicated a measured expansion from 2017 to 2022: its price increased at an average annual rate of +2.3% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate import price increased by +60.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 45%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 Latvia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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