During the quarter, chocolate worth $55 million was exported from Ukraine

Published May 5, 2024

Tridge summary

In the first quarter of 2024, Ukraine saw a significant increase in both exports and imports of chocolate, with the country exporting 14.5 thousand tons worth $55 million and importing 8,900 tons worth $53 million. This surge is attributed to the global rise in cocoa prices, which have since experienced a 40% drop from their peak. The price hike was initially caused by a three-year run of poor yields in West Africa, the main cocoa-producing region. Factors such as recent rainfall and increased farming in Côte d'Ivoire and Ghana may further impact crop outcomes. The situation has led to reductions in chocolate bar sizes and potential price increases in Ukraine. Additionally, the quarter saw a major chocolate manufacturer, Mars Inc., making a slight reduction to the weight of its Galaxy chocolate bar, a move that reflected wider trends in the cocoa market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the first quarter of 2024, Ukraine exported more chocolate in terms of quantity than it imported, but in terms of monetary value, these indicators were almost the same. According to data from Shareuapotential, during this period Ukraine exported 14.5 thousand tons of chocolate worth $55 million. For comparison, in the first quarter of 2023, export figures were lower — 11.5 thousand tons for $37 million. As for imports, in the first three months of 2024, Ukraine imported 8,900 tons of chocolate worth $53 million, which also increased compared to last year, when 8,700 tons worth $42 million were imported. Chocolate prices have increased significantly, both in Ukraine and abroad, due to the global increase in the price of cocoa beans. According to the results of last year, the export of chocolate from Ukraine amounted to 53.4 thousand tons for the total amount of $191 million, and the import amounted to 31 thousand tons for $166 million. We will remind, after the record prices for ...

Source: Landlord