Brazil: Cocoa Butter Market 2024

Cocoa Butter Market Size in Brazil

In 2022, the Brazilian cocoa butter market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a perceptible shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Butter Production in Brazil

In value terms, cocoa butter production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Butter Exports

Exports from Brazil

After two years of growth, shipments abroad of cocoa butter decreased by X% to X tons in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. 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 reduced remarkably to $X in 2022. In general, exports, however, posted a moderate expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for cocoa butter exports from Brazil, with a X% share of total exports. Moreover, cocoa butter exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), twofold. Chile (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Chile (X% per year).

In value terms, the largest markets for cocoa butter exported from Brazil were Argentina ($X), the United States ($X) and Chile ($X), with a combined X% share of total exports.

Chile, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 butter export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, export price indicated noticeable growth 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. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Brazil

In 2022, purchases abroad of cocoa butter increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, cocoa butter imports expanded markedly to $X in 2022. In general, imports recorded buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Peru (X tons), Cote d'Ivoire (X tons) and Indonesia (X tons) were the main suppliers of cocoa butter imports to Brazil, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Cote d'Ivoire ($X) and Indonesia ($X) constituted the largest cocoa butter suppliers to Brazil, together comprising X% of total imports.

In terms of the main suppliers, Peru, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average cocoa butter import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price saw a slight descent. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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