Ecuador: Cocoa Powder Market 2024

Cocoa Powder Market Size in Ecuador

In 2022, the Ecuadorian cocoa powder market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a temperate 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. Cocoa powder consumption peaked at $X in 2021, and then shrank in the following year.

Cocoa Powder Production in Ecuador

In value terms, cocoa powder production reduced to $X in 2022 estimated in export price. Overall, production showed a noticeable descent. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Cocoa Powder Exports

Exports from Ecuador

In 2022, overseas shipments of cocoa powder (not sweetened) increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, saw a noticeable downturn. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports surged to $X in 2022. In general, exports, however, continue to indicate a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for cocoa powder exports from Ecuador, with a X% share of total exports. Moreover, cocoa powder exports to Colombia exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. Chile (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Chile (X% per year).

In value terms, Colombia ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Chile, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Chile (X% per year).

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Estonia ($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 Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Ecuador

In 2022, approx. X tons of cocoa powder (not sweetened) were imported into Ecuador; growing by X% on the year before. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, cocoa powder imports soared to $X in 2022. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Peru (X tons), Colombia (X tons) and Indonesia (X tons) were the main suppliers of cocoa powder imports to Ecuador, with a combined X% share of total imports.

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

In value terms, the largest cocoa powder suppliers to Ecuador were Peru ($X), Colombia ($X) and Indonesia ($X), with a combined X% share of total imports.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Peru ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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