Southern Asia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Southern Asia

The South Asian cocoa paste market reduced to $X in 2023, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2023.

Cocoa Paste Production in Southern Asia

In value terms, cocoa paste production declined slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2023.

Cocoa Paste Exports

Exports in Southern Asia

In 2023, after three years of growth, there was significant decline in shipments abroad of cocoa paste, when their volume decreased by X% to X tons. Overall, exports saw a dramatic curtailment. The growth pace was the most rapid in 2014 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, cocoa paste exports declined dramatically to $X in 2023. Over the period under review, exports recorded a precipitous descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

India prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. Sri Lanka (X tons) took a relatively small share of total exports.

India was also the fastest-growing in terms of the cocoa paste exports, with a CAGR of X% from 2012 to 2023. Sri Lanka (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Sri Lanka (X p.p.) displayed negative dynamics.

In value terms, India ($X) emerged as the largest cocoa paste supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in India stood at X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, showed a pronounced decline. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%).

Cocoa Paste Imports

Imports in Southern Asia

In 2023, purchases abroad of cocoa paste decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2022, and then reduced dramatically in the following year.

In value terms, cocoa paste imports dropped notably to $X in 2023. Over the period under review, imports showed a slight contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

India prevails in imports structure, resulting at X tons, which was near X% of total imports in 2023. Sri Lanka (X tons) held the second position in the ranking, followed by Pakistan (X tons). All these countries together took approx. X% share of total imports. Bangladesh (X tons) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to cocoa paste imports into India stood at X%. At the same time, Sri Lanka (X%), Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Sri Lanka, Pakistan and Bangladesh increased by X, X and X percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported cocoa paste in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an X% share of total imports. It was followed by Pakistan, with an X% share.

In India, cocoa paste imports contracted by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Sri Lanka ($X per ton) and Bangladesh ($X per ton), while Pakistan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform