Ecuador: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Ecuador

The Ecuadorian cocoa powder with sugar market fell modestly to $X in 2023, almost unchanged from the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Ecuador

In value terms, cocoa powder with sugar production reduced slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Ecuador

In 2023, the amount of cocoa powder (containing added sugar) exported from Ecuador surged to X tons, increasing by X% on 2022 figures. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports surged to $X in 2023. Overall, exports showed a strong increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Spain (X tons) and the UK (X tons) were the main destinations of cocoa powder with sugar exports from Ecuador, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the UK (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cocoa powder (containing added sugar) exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the UK (X% per year).

Export Prices by Country

The average cocoa powder with sugar export price stood at $X per ton in 2023, increasing by X% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cocoa powder with sugar export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Ecuador

In 2023, supplies from abroad of cocoa powder (containing added sugar) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. In general, imports recorded a dramatic descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports contracted sharply to $X in 2023. Overall, imports saw a sharp setback. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Chile (X tons) constituted the largest supplier of cocoa powder with sugar to Ecuador, with a X% share of total imports. Moreover, cocoa powder with sugar imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold.

From 2012 to 2023, the average annual growth rate of volume from Chile amounted to X%.

In value terms, Chile ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Ecuador, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from Chile totaled X%.

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, recorded a perceptible contraction. The growth pace was the most rapid in 2019 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform