Cocoa butter market in Greece

Earlier Report Observations

The cocoa butter market in Greece showed considerable variation in volume between 2018 and 2023. It grew from 5 918 tonnes in 2018 to a high of 6 756 tonnes in 2021, followed by a contraction to 6 298 tonnes in 2022. The market volume then held steady at this level through 2023, marking a period of stability after the earlier volatility.

This movement was driven by contrasting trends in domestic production and imports. Local output fell from 2 981 tonnes in 2018 to 2 542 tonnes in 2022 before recovering slightly to 2 888 tonnes in 2023. In parallel, imports of cocoa butter increased substantially, rising from 3 018 tonnes in 2018 to over 3 800 tonnes in 2022, which compensated for the domestic production dip and supported overall market volume.

By 2023, the Greek cocoa butter market had settled at an annual volume of 6 298 tonnes. The consistent import flow, coupled with a partial recovery in domestic production, underpinned this stabilized supply level, while exports remained a minor factor throughout the period.

Production cocoa butter in Greece

In kind, 2017-2020, K t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

In 2019, Greece's cocoa butter production hit its lowest point at 3 thousand tonnes, declining by 9.8% from the previous year. Production then rebounded in 2020, reaching 3 thousand tonnes with a modest 0.9% year-over-year increase. The peak production occurred in 2018 at 3 thousand tonnes, which represented a significant 10.6% growth.

Annual dynamics of production in Greece in kind, 2017-2020, K t

Exports cocoa butter from Greece

Exports in kind, t

After two consecutive years of growth, Greece's cocoa butter exports declined in 2020, totaling 78 tonnes—a 12.3% decrease from 2019. The highest export volume was recorded in 2019 at 89 tonnes, following a substantial 35.6% increase in 2018. Over the 2017-2020 period, exports grew by 30.2%, averaging an annual growth rate of 9.2%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Bulgaria and Romania were the primary destinations for Greece's cocoa butter exports in volume terms, together accounting for 82.2% of total shipments. The remaining share was distributed among various other markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Following two years of expansion, Greece's cocoa butter exports in value terms fell in 2020, reaching 481 thousand US dollars—a 14.8% drop from the previous year. The peak value was achieved in 2019 at 565 thousand US dollars, after a notable 31.8% increase in 2018. Between 2017 and 2020, export value rose by 14.7%, with a compound annual growth rate of 4.7%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

During 2017-2020, Bulgaria and Romania dominated Greece's cocoa butter exports in value terms, with Bulgaria contributing 66.0% and Romania 18.3% of total flows. Together, they represented 84.3% of export value, while other partners accounted for the remainder.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports cocoa butter to Greece

Imports in kind, t

In 2020, Greece's cocoa butter imports in volume terms amounted to 3 203 tonnes, marking an 11.2% decrease from 2019. The lowest import volume was recorded in 2018 at 3 018 tonnes, while the peak occurred in 2019 at 3 608 tonnes, following a sharp 19.5% increase that year. Over the 2017-2020 period, imports declined by 4.8%, with an average annual decrease of 1.6%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, the Netherlands, Germany, and France were the key sources for Greece's cocoa butter imports in volume terms. The Netherlands accounted for 51.6% of imports, Germany for 17.5%, and France for 13.2%, collectively representing 82.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

In 2020, Greece's cocoa butter imports in value terms reached 18 345 thousand US dollars, declining by 13.9% compared to 2019. The highest import value was recorded in 2019 at 21 301 thousand US dollars, after a 13.5% increase that year. Between 2017 and 2020, import value fell by 12.8%, equating to an average annual decline of 4.5%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

Throughout 2017-2020, the Netherlands, Germany, and France formed the core group of suppliers for Greece's cocoa butter imports in value terms. The Netherlands held a 51.8% share, Germany 18.4%, and France 11.9%, together accounting for 82.2% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020