Cocoa butter market in SADC

Earlier Report Observations

The cocoa butter market volume in SADC showed considerable movement from 2018 to 2023. It began at 6 714 t in 2018 before contracting sharply to 5 710 t in 2019.

A recovery followed in 2020, with volume rising to 6 245 t. Modest growth continued over the next two years, reaching 6 398 t in 2021 and 6 530 t in 2022.

By 2023, the market stabilized at 6 443 t, indicating a period of consolidation after the earlier fluctuations.

Production cocoa butter in SADC

In kind, 2017-2020, t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

In 2019, cocoa butter production in SADC reached its lowest point at 2,240 tonnes. Production then rebounded in 2020 to 2,420 tonnes, marking an 8.0% increase from the previous year. The highest production level was recorded in 2018 at 2,543 tonnes. Over the period from 2017 to 2020, overall production grew by 5%, translating to an average annual growth rate of 1.6%. The most significant year-on-year decline occurred in 2019, when production fell by 11.9%, while the largest increase was observed in 2018 with a 10.4% rise.

Annual dynamics of production in SADC in kind, 2017-2020, t

In value, 2017-2020, K $ US

Cocoa butter production in SADC experienced a second consecutive year of decline in value terms. In 2020, the output was valued at $27,483 thousand US, representing a 5.3% decrease compared to 2019. The peak value was recorded in 2018 at $39,128 thousand US. From 2017 to 2020, the total value of production dropped by 13.6%, averaging an annual decline of 4.8%. The most substantial decrease occurred in 2019 with a 25.8% fall, while the largest increase was seen in 2018 with a 23.0% rise.

Annual dynamics of production in SADC in value, 2017-2020, K $ US

Exports cocoa butter from SADC

Exports in kind, t

In 2019, cocoa butter exports from SADC hit their lowest point at 13 tonnes. They then surged in 2020 to 21 tonnes, reflecting a sharp 57.0% increase from the previous year. The highest export volume was recorded in 2018 at 25 tonnes. Over the 2017-2020 period, exports grew by 11.8%, with a compound annual growth rate (CAGR) of 3.8%. The most significant decline occurred in 2019, when exports fell by 47.1%.

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

From 2017 to 2020, Kenya was the largest buyer of cocoa butter from SADC in volume terms, accounting for 27.3% of exports. The United Kingdom followed with 3.4%, and Congo with 3.1%. Together, these three countries represented 33.8% of total exports, indicating a relatively diversified export structure with no single dominant market.

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

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

Exports in value, K $ US

SADC's cocoa butter exports in value terms reached $204 thousand US in 2020, showing a substantial 21.8% increase from 2019. Over the 2017-2020 period, export value grew by 41.9%, with a CAGR of 12.4%. The largest decline was recorded in 2019 with a 17.2% drop, while the most significant increase occurred in 2018 with a 40.7% rise.

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

Between 2017 and 2020, Kenya was the leading destination for SADC's cocoa butter exports in value terms, representing 41.6% of the total. The United Kingdom accounted for 6.8%, and France for 3.9%. Collectively, these three markets made up 52.4% of total export flows.

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

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

Imports cocoa butter to SADC

Imports in kind, t

In 2019, cocoa butter imports into SADC were at their lowest level of 3,483 tonnes. They increased to 3,846 tonnes in 2020, up by 10.4% from the previous year. The peak import volume was recorded in 2018 at 4,196 tonnes. Over the 2017-2020 period, imports rose by 7.9%, with a CAGR of 2.6%. The most significant decline occurred in 2019 with a 17.0% drop, while the largest increase was in 2018 with a 17.7% rise.

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

From 2017 to 2020, Indonesia was the primary supplier of cocoa butter to SADC in volume terms, accounting for 45.0% of imports. Malaysia contributed 27.4%, and Singapore 16.6%. Together, these three countries dominated the import market, representing 89.0% of total imports.

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

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

Imports in value, K $ US

In 2019, cocoa butter imports into SADC in value terms were at their lowest point of $19,187 thousand US. They increased to $21,566 thousand US in 2020, up by 12.4% year-over-year. The highest import value was recorded in 2018 at $25,049 thousand US. The most significant decline occurred in 2019 with a 23.4% drop, while the largest increase was in 2018 with a 16.1% rise.

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

Throughout 2017-2020, Indonesia remained the key supplier of cocoa butter to SADC in value terms, accounting for 45.1% of imports. Malaysia followed with 28.1%, and Singapore with 16.8%. These three partners together accounted for 90.0% of total import flows.

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

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