Colombia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Colombia

The Colombian cocoa paste market fell slightly to $X in 2022, approximately equating the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cocoa Paste Production in Colombia

In value terms, cocoa paste production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Cocoa Paste Exports

Exports from Colombia

In 2022, approx. X tons of cocoa paste were exported from Colombia; increasing by X% on the previous year's figure. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume 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, exports decreased by X% against 2015 indices. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa paste exports expanded markedly to $X in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons), Trinidad and Tobago (X tons) and Mexico (X tons) were the main destinations of cocoa paste exports from Colombia, with a combined X% share of total exports. Russia, the United States, Peru and Argentina lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa paste exported from Colombia were Costa Rica ($X), Trinidad and Tobago ($X) and Mexico ($X), with a combined X% share of total exports. Russia, the United States, Argentina and Peru lagged somewhat behind, together comprising a further X%.

Peru, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average cocoa paste export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

Cocoa Paste Imports

Imports into Colombia

In 2022, approx. X tons of cocoa paste were imported into Colombia; rising by X% against the year before. Over the period under review, imports, however, continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cocoa paste imports soared to $X in 2022. Overall, imports, however, recorded a dramatic slump. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Peru (X tons) was the main supplier of cocoa paste to Colombia, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Peru stood at X%.

In value terms, Peru ($X) constituted the largest supplier of cocoa paste to Colombia.

From 2012 to 2022, the average annual growth rate of value from Peru stood at X%.

Import Prices by Country

In 2022, the average cocoa paste import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2015 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to X% per year.

Source: IndexBox Platform

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