Uruguay: Cocoa Powder Market 2024

Cocoa Powder Market Size in Uruguay

In 2022, after two years of decline, there was significant growth in the Uruguayan cocoa powder market, when its value increased by X% to $X. Over the period under review, consumption showed a prominent expansion. Cocoa powder consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Uruguay

In value terms, cocoa powder production expanded modestly to $X in 2022 estimated in export price. Overall, production continues to indicate prominent growth. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports from Uruguay

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, cocoa powder exports dropped to $X in 2022. Overall, exports, however, showed pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Brazil (X tons), Argentina (X tons) and Estonia (X tons) were the main destinations of cocoa powder exports from Uruguay, with a combined X% share 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 Estonia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa powder exported from Uruguay were Brazil ($X), Argentina ($X) and Estonia ($X), together comprising X% of total exports.

Estonia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Argentina ($X per ton) and Brazil ($X per ton), while the average price for exports to Mexico ($X per ton) and Estonia ($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 Estonia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Uruguay

In 2022, the amount of cocoa powder (not sweetened) imported into Uruguay rose to X tons, picking up by X% against 2021 figures. Over the period under review, imports, however, recorded a mild descent. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa powder imports totaled $X in 2022. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), the Netherlands (X tons) and Austria (X tons) were the main suppliers of cocoa powder imports to Uruguay, with a combined X% share of total imports. Spain, Bulgaria and Estonia lagged somewhat behind, together accounting for a further X%.

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.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of cocoa powder (not sweetened) to Uruguay, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Spain (X% per year).

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Brazil ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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