Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium - 2023
Contents:
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium (CIF) - 2023
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium (FOB) - 2023
- Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium
- Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium (CIF) - 2023
The average import price for cocoa beans; whole or broken, raw or roasteds stood at $3,385 per ton in October 2023, with an increase of 2.5% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +2.7%. The pace of growth was the most pronounced in December 2022 when the average import price increased by 8.9% against the previous month. The import price peaked in October 2023.
Average prices varied somewhat amongst the major supplying countries. In October 2023, the countries with the highest prices were the Dominican Republic ($4,007 per ton) and Ecuador ($3,858 per ton), while the price for Cameroon ($2,762 per ton) and Nigeria ($2,981 per ton) were amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Nigeria (+3.3%), 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 Belgium (FOB) - 2023
In October 2023, the average export price for cocoa beans; whole or broken, raw or roasteds amounted to $4,252 per ton, jumping by 18% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +4.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In October 2023, the country with the highest price was the UK ($11,433 per ton), while the average price for exports to Indonesia ($3,299 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+19.1%), 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 Belgium
In 2022, purchases abroad of cocoa beans; whole or broken, raw or roasteds decreased by -2% to 328K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 189% against the previous year.
In value terms, imports of cocoa beans; whole or broken, raw or roasteds fell to $862M in 2022. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 213% against the previous year.
| Import of Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 144 | 443 | 505 | 430 | 44.0% |
| Ghana | 45.4 | 118 | 176 | 165 | 53.7% |
| Ecuador | 10.6 | 23.3 | 50.1 | 48.2 | 65.7% |
| France | 0.1 | 3.1 | 36.7 | 42.3 | 650.7% |
| Nigeria | 10.5 | 85.1 | 54.5 | 41.9 | 58.6% |
| Dominican Republic | 4.8 | 27.4 | 43.4 | 38.6 | 100.3% |
| Cameroon | 2.7 | 18.0 | 23.0 | 22.5 | 102.7% |
| Others | 36.3 | 77.1 | 102 | 73.6 | 26.6% |
| Total | 254 | 795 | 991 | 862 | 50.3% |
Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to Belgium in 2022:
- Cote d'Ivoire (170.7K tons)
- Ghana (60.5K tons)
- Nigeria (17.8K tons)
- Ecuador (17.3K tons)
- France (14.3K tons)
- Dominican Republic (12.3K tons)
- Cameroon (9.4K tons)
Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium
In 2022, approx. 246K tons of cocoa beans; whole or broken, raw or roasteds were exported from Belgium; rising by 17% against 2021 figures. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 2,486%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, exports of cocoa beans; whole or broken, raw or roasteds expanded notably to $667M in 2022. Overall, exports posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 2,659%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Cocoa Beans; Whole or Broken, Raw or Roasted in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 3.8 | 332 | 390 | 368 | 359.2% |
| France | 5.0 | 174 | 102 | 169 | 223.3% |
| Austria | N/A | 23.5 | 19.8 | 37.1 | 25.6% |
| Canada | N/A | 17.0 | 12.7 | 21.7 | 13.0% |
| Slovakia | N/A | 10.8 | 19.4 | 20.1 | 36.4% |
| Netherlands | 2.5 | 38.5 | 39.2 | 17.5 | 91.3% |
| Italy | 0.9 | 4.3 | 11.2 | 14.7 | 153.7% |
| United Kingdom | 5.4 | 5.3 | 0.6 | 0.6 | -51.9% |
| Others | 5.1 | 24.5 | 27.3 | 18.6 | 53.9% |
| Total | 22.8 | 630 | 622 | 667 | 208.1% |
Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from Belgium in 2022:
- Germany (138.6K tons)
- France (59.9K tons)
- Austria (13.2K tons)
- Canada (9.1K tons)
- Slovakia (7.3K tons)
- Netherlands (6.4K tons)
- Italy (5.1K tons)
- United Kingdom (0.1K tons)
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This report provides an in-depth analysis of the cocoa bean market in Belgium.
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This report provides an in-depth analysis of the cocoa bean market in Belgium.
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