Turkey: Cocoa Paste Market 2024

Cocoa Paste Market Size in Turkey

The Turkish cocoa paste market expanded sharply to $X in 2022, growing by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Cocoa paste consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Cocoa Paste Production in Turkey

In value terms, cocoa paste production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Cocoa paste production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Paste Exports

Exports from Turkey

In 2022, cocoa paste exports from Turkey surged to X tons, with an increase of X% against the year before. In general, exports continue to indicate a relatively flat trend pattern. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa paste exports skyrocketed to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X tons), Algeria (X tons) and the Netherlands (X tons) were the main destinations of cocoa paste exports from Turkey, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Algeria ($X) and the Netherlands ($X) were the largest markets for cocoa paste exported from Turkey worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa paste export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Algeria ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

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

Cocoa Paste Imports

Imports into Turkey

Cocoa paste imports into Turkey was estimated at X tons in 2022, approximately equating the year before. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa paste imports dropped to $X in 2022. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

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

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

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

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

Import Prices by Country

In 2022, the average cocoa paste import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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