Portugal: Cocoa Powder Market 2024

Cocoa Powder Market Size in Portugal

The Portuguese cocoa powder market totaled $X in 2022, remaining stable against the previous year. Over the period under review, consumption saw a noticeable contraction. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Portugal

In value terms, cocoa powder production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Cocoa Powder Exports

Exports from Portugal

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports dropped to $X in 2022. Over the period under review, total exports indicated resilient 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 decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for cocoa powder exports from Portugal, accounting for a X% share of total exports. Moreover, cocoa powder exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), more than tenfold. Cabo Verde (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (X% per year) and Cabo Verde (X% per year).

In value terms, Spain ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Portugal, comprising X% of total exports. The second position in the ranking was held by Angola ($X), with a X% share of total exports. It was followed by Cabo Verde, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (X% per year) and Cabo Verde (X% per year).

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price recorded a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to Spain ($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 Spain (X%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Portugal

In 2022, imports of cocoa powder (not sweetened) into Portugal shrank modestly to X tons, declining by X% compared with the previous year's figure. 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 in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa powder imports contracted slightly to $X in 2022. Overall, imports saw a pronounced reduction. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of cocoa powder imports to Portugal, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and the Netherlands ($X) constituted the largest cocoa powder suppliers to Portugal, together accounting for X% of total imports.

Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and France ($X per ton), while the price for Bulgaria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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