Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Italy - 2023

Contents:

1. Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Italy (CIF) - 2023
2. Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Italy (FOB) - 2022
3. Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in Italy
4. Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Italy

Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Italy (CIF) - 2023

In October 2023, the average import price for cocoa beans; whole or broken, raw or roasteds amounted to $3,623 per ton, with a decrease of -4.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.9%. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 16% m-o-m. Over the period under review, average import prices hit record highs at $3,776 per ton in September 2023, and then declined in the following month.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Uganda ($4,435 per ton), while the price for Nigeria ($2,852 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Italy (FOB) - 2022

The average export price for cocoa beans; whole or broken, raw or roasteds stood at $4,721 per ton in 2022, increasing by 50% against the previous year. Over the period under review, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 99% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($9,675 per ton), while the average price for exports to the Netherlands ($2,621 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in Italy

In 2022, after three years of growth, there was significant decline in purchases abroad of cocoa beans; whole or broken, raw or roasteds, when their volume decreased by -5.6% to 101K tons. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 7.5% against the previous year. As a result, imports reached the peak of 107K tons, and then dropped in the following year.

In value terms, imports of cocoa beans; whole or broken, raw or roasteds declined significantly to $282M in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 22%.

Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to Italy in 2022:

1. Cote d'Ivoire (41.5K tons)
2. Ecuador (16.2K tons)
3. Ghana (13.3K tons)
4. Netherlands (8.0K tons)
5. Belgium (5.0K tons)
6. Nigeria (4.2K tons)
7. Peru (3.4K tons)

Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Italy

In 2022, exports of cocoa beans; whole or broken, raw or roasteds from Italy dropped dramatically to 780 tons, which is down by -40.4% against the year before. In general, exports saw a deep setback. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year.

In value terms, exports of cocoa beans; whole or broken, raw or roasteds fell to $3.7M in 2022. The total export value increased at an average annual rate of +4.7% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 21% against the previous year. As a result, the exports attained the peak of $4.1M, and then dropped in the following year.

Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from Italy in 2022:

1. Germany (310.7 tons)
2. Netherlands (250.0 tons)
3. Belgium (99.8 tons)
4. United States (54.6 tons)
5. France (45.8 tons)
6. Spain (1.0 tons)

Source: IndexBox Market Intelligence Platform