Cocoa powder and cake market in Argentina

Earlier Report Observations

The Argentine market for cocoa powder and cake experienced fluctuations between 2018 and 2020. The market volume reached 21 006 t in 2018 but contracted by 6.5% to 19 651 t the following year. This decline coincided with a rising exchange rate for the peso, which increased the cost of imported cocoa beans and other inputs for domestic processors, who rely heavily on supplies from Brazil, Colombia, Ecuador, and Venezuela. Market volume recovered to 21 298 t in 2020, an increase of 8.4%.

From 2021 to 2023, the overall market volume grew by 15%, reaching 24 522 t. The most significant expansion occurred in 2021, with a jump of 16.5% to 24 803 t. By 2023, the market was influenced by global supply-side pressures: international cocoa prices surged due to adverse weather and crop diseases in key producing regions like Côte d'Ivoire and Ghana, elevating production costs for Argentine manufacturers. Despite these cost increases, domestic market volume resumed growth in 2023 after a slight dip in 2022.

Production cocoa powder and cake in Argentina

In kind, 2017-2020, t

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Argentina produced 4,031 tonnes of cocoa powder and cake in 2020, representing an 11.7% increase compared to the previous year. Over the period from 2017 to 2020, production declined by 5.5%, which translates to an average annual decrease of 1.9%. The lowest production level was recorded in 2019 at 3,610 tonnes, while the highest was in 2018 with 4,302 tonnes. The most significant drop occurred in 2019, when production fell by 16.1%.

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

Exports cocoa powder and cake from Argentina

Exports in kind, t

In 2020, Argentina exported 2 tonnes of cocoa powder and cake, showing no change from the previous year. Between 2017 and 2020, exports decreased by 60.5%, with a compound annual growth rate (CAGR) of -26.6%.

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

From 2017 to 2020, Uruguay, Bolivia, and Chile were the leading destinations for Argentina's cocoa powder and cake exports in volume terms. Uruguay accounted for 47.6% of exports, Bolivia for 31.3%, and Chile for 13.4%. Together, these three countries represented 92.2% of total export flows.

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

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

Exports in value, K $ US

Argentina's cocoa powder and cake exports were valued at 12,000 US dollars in 2020, remaining stable compared to 2019. Over the 2017-2020 period, export value declined by 71.1%, with a CAGR of -33.9%.

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

During 2017-2020, Uruguay, Bolivia, and Chile formed the core markets for Argentina's cocoa powder and cake exports in value terms. Uruguay represented 49.9% of export value, Bolivia 26.0%, and Chile 10.3%. Collectively, these three countries accounted for 86.2% of total export value.

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

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

Imports cocoa powder and cake to Argentina

Imports in kind, t

Argentina imported 16,041 tonnes of cocoa powder and cake in 2020, marking a 7.7% increase from the previous year. Between 2017 and 2020, imports grew by 5.7%, with a CAGR of 1.9%. The lowest import volume was recorded in 2019 at 16,041 tonnes, with the largest decline of 4.0% occurring that same year.

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

From 2017 to 2020, Brazil, Uruguay, and Spain were the three principal sources for Argentina's cocoa powder and cake imports in volume terms, together accounting for 79.4% of total imports.

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

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

Imports in value, K $ US

After two consecutive years of decline, Argentina's cocoa powder and cake imports increased in 2020, reaching 38,783,000 US dollars, up 8.8% year-over-year. Over the 2017-2020 period, import value decreased by 10.6%, equivalent to an average annual decline of 3.7%. The lowest value was recorded in 2019 at 35,650,000 US dollars, with the most significant drop of 9.6% occurring that year.

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

Between 2017 and 2020, Brazil, Uruguay, and Spain were the main sources for Argentina's cocoa powder and cake imports in value terms. Brazil accounted for 65.9% of import value, Uruguay for 8.6%, and Spain for 7.9%. Together, these three countries represented 82.4% of total import flows.

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

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