Opportunity for Premium Cocoa in South Korea

Promotion is being given to exports to China of organic cocoa-based foods, chocolate confectionery, unsweetened cocoa powder and cocoa paste.

Thursday, March 17, 2016

From a statement issued by the Foreign Trade Office of Costa Rica:

Western foods are gaining increasing market share in South Korea, whose market depends heavily on imports, which have been boosted by growth in per capita spending on food. Products with high cocoa content are most popular among Koreans, who prefer premium chocolates and in chocolate in bars.

Chocolates and other food preparations containing cocoa have an 81% share in the Korean market, and an import value of $323 million in 2014, an increase of 13.8% from the previous year. It is followed by the importation of cocoa powder without added sugar and cocoa paste, whether defatted or not, with import amounts in the order of $26.1 million and $17.3 million respectively.

See also: "Cocoa Cultivation Given New Impetus in Costa Rica"

More on this topic

Nicaragua Sells Less Cocoa

January 2019

Even though in 2018 cocoa was better quoted internationally, the volume sold abroad fell 8% compared to 2017, going down from 4,238 to 3,886 tons.

In contrast to the negative variation in the volume traded, figures from the Export Processing Center (Cetrex) detail that between 2017 and 2018 the value of exports registered a 18.9% growth, increasing from $5.3 million to $6.3 million.

Growth in Peruvian Cocoa Exports to Canada

August 2014

The FTA signed between the two countries explains the increase in sales of Peruvian cacao in Canada, which went from $200,000 in 2008 to $3.5 million in 2013.

From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):

Peruvian cocoa exports to Canada, according to the Business Intelligence System of the Exporters Association of Peru (ADEX), went from $200,000 in 2008 to $3.5 million in 2013 and the amount accumulated between January and May this year totaled $644,000.

Consumption of Premium Chocolates Growing in Chile

April 2014

The increase in the purchasing power of consumers explains the growth of this market segment, which in the last five years has doubled its size.

From a statement issued by the Costa Rican Foreign Trade Promotion Office:

It is estimated that the market for chocolate in Chile reached about USD 528 million in 2013, growing at average annual rates of close to 4% in volume and 8% in value.

Mexico Needs Cocoa

April 2013

In order to stimulate the Mexican chocolate industry the government of the country will be allowing cocoa imports .

From an article by the Costa Rican Trade Promotion Office (PROCOMER):

Chocolate is a product that Mexico supplies to the world and which is currently going through hard times in this country.

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