Turkey: Cocoa Butter Market 2024

Cocoa Butter Market Size in Turkey

The Turkish cocoa butter market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, saw a mild decrease. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in Turkey

In value terms, cocoa butter production rose remarkably to $X in 2022 estimated in export price. In general, production, however, showed a slight setback. The pace of growth appeared the most rapid in 2020 with an increase of X%. Cocoa butter production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Cocoa Butter Exports

Exports from Turkey

In 2022, after three years of decline, there was significant growth in overseas shipments of cocoa butter, when their volume increased by X% to X tons. In general, exports recorded a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, cocoa butter exports skyrocketed to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid 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

Iran (X tons) was the main destination for cocoa butter exports from Turkey, with a X% share of total exports. Moreover, cocoa butter exports to Iran exceeded the volume sent to the second major destination, Algeria (X tons), threefold. The third position in this ranking was held by Croatia (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Iran stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Croatia (X% per year).

In value terms, Iran ($X) remains the key foreign market for cocoa butter exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Algeria ($X), with a X% share of total exports. It was followed by Croatia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Iran amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Croatia (X% per year).

Export Prices by Country

In 2022, the average cocoa butter export price amounted to $X per ton, shrinking by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Croatia ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Turkey

In 2022, the amount of cocoa butter imported into Turkey shrank slightly to X tons, dropping by X% compared with 2021 figures. Over the period under review, total imports indicated perceptible growth 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 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined slightly in the following year.

In value terms, cocoa butter imports shrank rapidly to $X in 2022. In general, total imports indicated a buoyant expansion 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. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

Malaysia (X tons), the Netherlands (X tons) and Bulgaria (X tons) were the main suppliers of cocoa butter imports to Turkey, together comprising X% of total imports.

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

In value terms, Malaysia ($X), the Netherlands ($X) and Bulgaria ($X) constituted the largest cocoa butter suppliers to Turkey, together accounting for X% of total imports.

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

Import Prices by Country

The average cocoa butter import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, import price indicated strong 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 pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :