Ireland: Cocoa Butter Market Overview 2021

Cocoa Butter Market Size in Ireland

In 2020, the Irish cocoa butter market increased by X% to $X for the first time since 2017, thus ending a two-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2020, consumption stood at a somewhat lower figure.

Cocoa Butter Exports

Exports from Ireland

Cocoa butter exports from Ireland skyrocketed to X tonnes in 2020, picking up by X% compared with 2019. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X% y-o-y. Exports peaked in 2020 and are expected to retain growth in the near future.

In value terms, cocoa butter exports surged to $X in 2020. Over the period under review, exports recorded noticeable growth. The growth pace was the most rapid in 2017 when exports increased by X% y-o-y. Over the period under review, exports reached the maximum in 2020 and are expected to retain growth in the near future.

Exports by Country

The UK (X tonnes) was the main destination for cocoa butter exports from Ireland, with a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to the UK totaled +X%.

In value terms, the UK ($X) also remains the key foreign market for cocoa butter exports from Ireland.

From 2007 to 2020, the average annual growth rate of value to the UK stood at +X%.

Export Prices by Country

In 2020, the average cocoa butter export price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, the export price saw a perceptible expansion. The growth pace was the most rapid in 2017 an increase of X% year-to-year. The export price peaked at $X per tonne in 2009; however, from 2010 to 2020, export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2007 to 2020, the rate of growth in terms of prices for the UK amounted to +X% per year.

Cocoa Butter Imports

Imports into Ireland

Cocoa butter imports into Ireland rose rapidly to X tonnes in 2020, picking up by X% compared with 2019 figures. In general, imports continue to indicate a modest increase. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. Imports peaked at X tonnes in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, cocoa butter imports surged to $X in 2020. Over the period under review, imports saw temperate growth. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Cote d'Ivoire (X tonnes) constituted the largest cocoa butter supplier to Ireland, accounting for a X% share of total imports. Moreover, cocoa butter imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, the UK (X tonnes), twofold.

From 2007 to 2020, the average annual growth rate of volume from Cote d'Ivoire totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and Germany (+X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa butter to Ireland, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports.

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

Import Prices by Country

The average cocoa butter import price stood at $X per tonne in 2020, growing by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The import price peaked at $X per tonne in 2009; however, from 2010 to 2020, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was the UK ($X per tonne), while the price for Germany ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cocoa butter in the world?

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China (880K tonnes) constituted the country with the largest volume of cocoa butter consumption, comprising approx. 16% of total volume. Moreover, cocoa butter consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (399K tonnes), twofold. The third position in this ranking was occupied by India (360K tonnes), with a 6.5% share.

What are the largest producers of cocoa butter in the world?

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China (872K tonnes) constituted the country with the largest volume of cocoa butter production, accounting for 16% of total volume. Moreover, cocoa butter production in China exceeded the figures recorded by the second-largest producer, India (359K tonnes), twofold. The third position in this ranking was occupied by the U.S. (321K tonnes), with a 5.9% share.

What are the leading suppliers of cocoa butter to Ireland?

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In value terms, Cote d'Ivoire ($19M) constituted the largest supplier of cocoa butter to Ireland, comprising 66% of total imports. The second position in the ranking was occupied by the UK ($9.1M), with a 31% share of total imports.

What are the leading importers of cocoa butter from Ireland?

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In value terms, the UK ($314K) remains the key foreign market for cocoa butter exports from Ireland.

What is the average export price for cocoa butter in Ireland?

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In 2020, the average cocoa butter export price amounted to $6,092 per tonne, increasing by 5.5% against the previous year.

What is the average import price for cocoa butter in Ireland?

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The average cocoa butter import price stood at $6,116 per tonne in 2020, with an increase of 12% against the previous year.