The Russian group saw a 27.2% rise in functional cocoa butter substitutes sales in its 9-month financials released on Friday.
It said that the rise in substitutes was unlinked to increasing cocoa butter prices and had more to do with a pickup in the Russian confectionery sector.
Evgeny Lyashenko, CEO of EFKO Group, told ConfectioneryNews: “The demand for cocoa butter substitutes is only related to the confectionery market. During 9M 2013 the growth in Russian confectionery totaled 6%, which indicates the market recovery and increase in purchasing ability.
“The price of cocoa butter does not affect to the demand of non-lauric cocoa butter substitutes.”
Cocoa Butter – Obtained from crushing and grinding cocoa beans and used in chocolate at around 30% to give mouthfeel, texture and aroma.
EFKO leads the Russian cocoa butter substitute market with a 19% share. The company’s cocoa substitute sale growth was driven by non-lauric cocoa butter substitutes – known as cocoa replacers
“We also have achieved the growth through the substitution of imported products on the Russian market, and also through export sales development, primarily to Ukraine, Belarus and Kazakhstan. These markets have high potential, but are less developed than the markets of industrial ingredients in Russia,” said Lyashenko.
EFKO supplies lauric and non-lauric cacao butter substitutes and a new generation of CBS with low transisomer content. “This defines their functionality and allows to be used for different purposes in industry,” said Lyashenko.
The cost of CBS can be up to 40% cheaper than cocoa butter.