Indonesia Boosts Cocoa Butter Exports to Australia and India to Offset Falling American Purchases
IndexBox has just published a new report: ‘Indonesia – Cocoa Butter – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
Indonesian cocoa butter exports remained robust in 2020, growing to $791M. The U.S., the Netherlands and India constitute the main markets for Indonesian cocoa butter, with a combined 49% share of the total exports. The supplies to the U.S. dropped by -20% y-o-y in value terms. Indonesia has compensated for these losses by boosting exports to Australia, India, Estonia, United Arab Emirates and the Netherlands.
Indonesian Cocoa Butter Exports
In 2020, approx. 144K tonnes of cocoa butter were exported from Indonesia, remaining constant against 2019. In value terms, cocoa butter exports rose from $785M in 2019 to $791M (IndexBox estimates) in 2020.
The U.S. (38K tonnes), the Netherlands (21K tonnes) and India (12K tonnes) were the main destinations of cocoa butter exports from Indonesia, with a combined 49% share of total exports. These countries were followed by Germany, Estonia, Australia, Canada, China, Russia, Japan, Mexico, France and the United Arab Emirates, which together accounted for a further 44%.
In value terms, the U.S. ($209M), the Netherlands ($113M) and India ($65M) were the largest markets for cocoa butter exported from Indonesia, together comprising 49% of total exports.
In 2020, Indonesian supplies to the U.S. fell by -$54M compared to the previous year. By contrast, exports to Australia (+$16M), India (+$15M), Estonia (+$10M), United Arab Emirates (+$9M) and the Netherlands (+$9M) increased.
In 2020, the average cocoa butter export price amounted to $5,474 per tonne. Average prices varied noticeably for the major foreign markets. In 2020, the highest prices were recorded for prices to the United Arab Emirates ($5,659 per tonne) and China ($5,587 per tonne), while the average prices for exports to Germany ($5,172 per tonne) and the Netherlands ($5,394 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Japan, while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Platform