MENA: Cocoa Bean Market 2024

Cocoa Bean Market Size in MENA

In 2022, the MENA's cocoa bean market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cocoa Bean Production in MENA

In value terms, cocoa bean production rose 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; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

The country with the largest volume of cocoa bean production was the United Arab Emirates (X tons), accounting for X% of total volume. Moreover, cocoa bean production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Egypt (X tons), more than tenfold.

In the United Arab Emirates, cocoa bean production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Egypt (X% per year) and Lebanon (X% per year).

Cocoa Bean Exports

Exports in MENA

In 2022, after two years of growth, there was significant decline in overseas shipments of cocoa beans, when their volume decreased by X% to X tons. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cocoa bean exports dropped rapidly to $X in 2022. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the key exporter of cocoa beans in MENA, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Turkey (X tons), comprising a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean exports from the United Arab Emirates stood at X%. Turkey experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey increased by X percentage points.

In value terms, the United Arab Emirates ($X) remains the largest cocoa bean supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Cocoa Bean Imports

Imports in MENA

In 2022, purchases abroad of cocoa beans decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports declined markedly to $X in 2022. In general, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell markedly in the following year.

Imports by Country

Turkey prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Tunisia (X tons), mixing up a X% share of total imports. Iran (X tons) and the United Arab Emirates (X tons) held a little share of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of cocoa beans. At the same time, the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Tunisia experienced a relatively flat trend pattern. While the share of Turkey (X p.p.), Iran (X p.p.) and the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cocoa beans in MENA, comprising X% of total imports. The second position in the ranking was taken by Tunisia ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

In Turkey, cocoa bean imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tunisia (X% per year) and Iran (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, which is down by X% against the previous year. Overall, the import price continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Iran ($X per ton) and Tunisia ($X per ton), while the United Arab Emirates ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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