Estonia: Cocoa Butter Market 2024

Cocoa Butter Market Size in Estonia

In 2022, after two years of decline, there was significant growth in the Estonian cocoa butter market, when its value increased by X% to $X. In general, consumption, however, showed a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in Estonia

In value terms, cocoa butter production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt setback. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Cocoa Butter Exports

Exports from Estonia

In 2022, overseas shipments of cocoa butter increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, faced a deep downturn. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports surged to $X in 2022. In general, exports, however, showed a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for cocoa butter exports from Estonia, with a X% share of total exports. Moreover, cocoa butter exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (X% per year) and Latvia (X% per year).

In value terms, Russia ($X) emerged as the key foreign market for cocoa butter exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Belarus ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (X% per year) and Latvia (X% per year).

Export Prices by Country

In 2022, the average cocoa butter export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Russia ($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 Belarus (X%), while the prices for the other major destinations experienced a decline.

Cocoa Butter Imports

Imports into Estonia

In 2022, supplies from abroad of cocoa butter increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, saw a deep slump. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa butter imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cocoa butter to Estonia, accounting for a X% share of total imports. Moreover, cocoa butter imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X tons), tenfold. The third position in this ranking was taken by Ghana (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Ghana (X% per year).

In value terms, the Netherlands ($X), Belgium ($X) and Ghana ($X) were the largest cocoa butter suppliers to Estonia, together accounting for X% of total imports.

Among the main suppliers, Belgium, with a CAGR of X%, recorded the highest growth rate of 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

The average cocoa butter import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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