Serbia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Serbia

The Serbian cocoa paste market surged to $X in 2022, jumping by X% against the previous year. Overall, the total consumption indicated slight 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Cocoa Paste Production in Serbia

In value terms, cocoa paste production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Cocoa Paste Exports

Exports from Serbia

In 2022, overseas shipments of cocoa paste decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cocoa paste exports contracted notably to $X in 2022. In general, exports faced a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Montenegro (X tons) was the main destination for cocoa paste exports from Serbia, with a X% share of total exports. Moreover, cocoa paste exports to Montenegro exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Montenegro amounted to X%.

In value terms, Montenegro ($X) remains the key foreign market for cocoa paste exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average cocoa paste export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Montenegro totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Paste Imports

Imports into Serbia

In 2022, overseas purchases of cocoa paste increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a moderate 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa paste imports skyrocketed to $X in 2022. Overall, imports continue to indicate measured growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The Netherlands (X tons), China (X tons) and Cote d'Ivoire (X tons) were the main suppliers of cocoa paste imports to Serbia, together comprising X% of total imports. Poland, France, Ghana, Lithuania and Nigeria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa paste suppliers to Serbia were China ($X), Cote d'Ivoire ($X) and the Netherlands ($X), with a combined X% share of total imports. Poland, France, Ghana, Lithuania and Nigeria lagged somewhat behind, together accounting for a further X%.

Lithuania, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa paste import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Nigeria ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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