Middle East: Cocoa Butter Market 2024

Cocoa Butter Market Size in the Middle East

The Middle Eastern cocoa butter market rose modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded a slight descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Butter Production in the Middle East

In value terms, cocoa butter production rose to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Cocoa Butter Exports

Exports in the Middle East

In 2022, shipments abroad of cocoa butter increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a tangible 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. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports soared to $X in 2022. Overall, exports saw a noticeable expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat 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 amounted to $X per ton.

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

Cocoa Butter Imports

Imports in the Middle East

In 2022, approx. X tons of cocoa butter were imported in the Middle East; approximately reflecting 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa butter imports contracted to $X in 2022. Total imports indicated a prominent increase 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey represented the key importing country with an import of about X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Israel (X tons), Saudi Arabia (X tons) and Iran (X tons). All these countries together held approx. X% share of total imports. Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cocoa butter imports into Turkey stood at X%. At the same time, Israel (X%), Jordan (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Israel (X p.p.) significantly strengthened its position in terms of the total imports, while Iran and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cocoa butter in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, shrinking by X% against the previous year. Import price indicated notable 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. Based on 2022 figures, cocoa butter import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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