South Africa: Cocoa Paste Market 2024

Cocoa Paste Market Size in South Africa

The South African cocoa paste market contracted slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cocoa Paste Production in South Africa

In value terms, cocoa paste production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Cocoa paste production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Cocoa Paste Exports

Exports from South Africa

In 2022, approx. X tons of cocoa paste were exported from South Africa; picking up by X% against the previous year's figure. In general, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cocoa paste exports soared to $X in 2022. Over the period under review, exports, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Swaziland (X tons), Mozambique (X tons) and Botswana (X kg) were the main destinations of cocoa paste exports from South Africa, together accounting for X% of total exports.

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

In value terms, Mozambique ($X) emerged as the key foreign market for cocoa paste exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by Swaziland ($X), with a X% share of total exports. It was followed by Botswana, with a X% share.

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

Export Prices by Country

In 2022, the average cocoa paste export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Ghana ($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 Mozambique (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Paste Imports

Imports into South Africa

After two years of growth, purchases abroad of cocoa paste decreased by X% to X tons in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa paste imports shrank sharply to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest cocoa paste supplier to South Africa, accounting for a X% share of total imports. Moreover, cocoa paste imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Ghana (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Ghana (X% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa paste to South Africa, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2022, 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 Netherlands (X% per year) and Singapore (X% per year).

Import Prices by Country

The average cocoa paste import price stood at $X per ton in 2022, shrinking by 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 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Malaysia ($X per ton), while the price for Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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