Greece: Cocoa Powder Market Overview 2021

Cocoa Powder Market Size in Greece

The Greek cocoa powder market was estimated at $X in 2020, with an increase of X% against the previous year. Over the period under review, the total consumption indicated measured growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Cocoa powder consumption peaked at $X in 2011; however, from 2012 to 2020, consumption remained at a lower figure.

Cocoa Powder Production in Greece

In value terms, cocoa powder production skyrocketed to $X in 2020 estimated in export prices. Over the period under review, production continues to indicate a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Cocoa powder production peaked at $X in 2011; however, from 2012 to 2020, production remained at a lower figure.

Cocoa Powder Exports

Exports from Greece

In 2020, approx. X tonnes of cocoa powder (not sweetened) were exported from Greece; with an increase of X% on 2019. Over the period under review, exports recorded a notable increase. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, cocoa powder exports surged to $X in 2020. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at $X in 2017; however, from 2018 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X tonnes), Albania (X tonnes) and Cyprus (X tonnes) were the main destinations of cocoa powder exports from Greece, together accounting for X% of total exports.

From 2007 to 2020, the biggest increases were in Cyprus, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa powder exported from Greece were Bulgaria ($X), Albania ($X) and Cyprus ($X), together comprising X% of total exports.

Cyprus 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 powder export price stood at $X per tonne in 2020, stabilizing at the previous year. Over the period under review, the export price, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% y-o-y. Over the period under review, average export prices attained the peak figure at $X per tonne in 2011; however, from 2012 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Romania ($X per tonne), while the average price for exports to Finland ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Romania, while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Greece

In 2020, imports of cocoa powder (not sweetened) into Greece shrank to X tonnes, dropping by -X% compared with 2019 figures. The total import volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. As a result, imports attained the peak of X tonnes. From 2010 to 2020, the growth imports remained at a lower figure.

In value terms, cocoa powder imports stood at $X in 2020. Over the period under review, total imports indicated tangible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, the Netherlands (X tonnes) constituted the largest supplier of cocoa powder to Greece, with a X% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tonnes), threefold. The third position in this ranking was occupied by Spain (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from the Netherlands stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Spain (+X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder to Greece, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the Netherlands totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Spain (+X% per year).

Import Prices by Country

In 2020, the average cocoa powder import price amounted to $X per tonne, increasing by X% against the previous year. Overall, the import price continues to indicate a notable increase. The growth pace was the most rapid in 2010 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was France ($X per tonne), while the price for Spain ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by France, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cocoa powder (not sweetened) in the world?

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The countries with the highest volumes of cocoa powder consumption in 2020 were China (492K tonnes), the U.S. (276K tonnes) and Brazil (172K tonnes), together comprising 31% of global consumption.

What are the largest producers of cocoa powder (not sweetened) in the world?

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The countries with the highest volumes of cocoa powder production in 2020 were China (462K tonnes), the Netherlands (237K tonnes) and the U.S. (208K tonnes), with a combined 30% share of global production. These countries were followed by Brazil, India, Germany, Spain, Indonesia, Pakistan, Nigeria, Bangladesh, Malaysia and Russia, which together accounted for a further 33%.

What are the leading suppliers of cocoa powder (not sweetened) to Greece?

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In value terms, the Netherlands ($8.2M) constituted the largest supplier of cocoa powder to Greece, comprising 60% of total imports. The second position in the ranking was occupied by Germany ($2.2M), with a 16% share of total imports. It was followed by Spain, with a 8.1% share.

What are the leading importers of cocoa powder (not sweetened) from Greece?

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In value terms, Bulgaria ($478K), Albania ($351K) and Cyprus ($223K) appeared to be the largest markets for cocoa powder exported from Greece worldwide, together accounting for 80% of total exports.

What is the average export price for cocoa powder (not sweetened) in Greece?

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In 2020, the average cocoa powder export price amounted to $3,014 per tonne, remaining constant against the previous year.

What is the average import price for cocoa powder (not sweetened) in Greece?

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The average cocoa powder import price stood at $2,581 per tonne in 2020, growing by 12% against the previous year.