Price for Cocoa; Paste, Not Defatted in Belarus - 2022

Price for Cocoa; Paste, Not Defatted in Belarus (CIF) - 2022

The average cocoa; paste, not defatted import price stood at $3,818 per ton in March 2022, reducing by -2.6% against the previous month. In general, the import price showed a mild descent. The pace of growth was the most pronounced in October 2021 when the average import price increased by 15% m-o-m. As a result, import price attained the peak level of $4,422 per ton. From November 2021 to March 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In March 2022, the country with the highest price was Ghana ($4,043 per ton), while the price for Cote d'Ivoire ($3,480 per ton) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by Ghana (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cocoa; Paste, Not Defatted in Belarus (FOB) - 2022

The average cocoa; paste, not defatted export price stood at $3,464 per ton in 2022, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2020 when the average export price increased by 6.7%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +1.5% per year.

Imports of Cocoa; Paste, Not Defatted in Belarus

In 2022, overseas purchases of cocoa; paste, not defatteds decreased by -52.6% to 2.5K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 with an increase of 52%. As a result, imports reached the peak of 5.2K tons, and then shrank rapidly in the following year.

In value terms, cocoa; paste, not defatted imports reduced remarkably to $9.3M in 2022. In general, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of 60%. As a result, imports reached the peak of $20M, and then declined notably in the following year.

Import of Cocoa; Paste, Not Defatted in Belarus (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Estonia	3.3	4.0	4.0	1.9	-16.8%
Cote d'Ivoire	4.1	3.9	2.9	1.3	-31.8%
Ghana	0.6	0.5	2.6	1.1	22.4%
Poland	1.6	2.7	1.6	0.7	-24.1%
Germany	0.1	0.6	0.7	0.3	44.2%
Russia	N/A	0.1	0.5	0.2	41.4%
Latvia	0.1	0.1	0.1	0.1	0.0%
Others	0.7	0.8	7.9	3.5	71.0%
Total	10.3	12.6	20.1	9.3	-3.3%

Top Suppliers of Cocoa; Paste, Not Defatted to Belarus in 2022:

Estonia (533.1 tons)
Cote d'Ivoire (311.9 tons)
Ghana (306.1 tons)
Poland (201.8 tons)
Russia (58.3 tons)
Germany (52.3 tons)
Latvia (39.3 tons)

Exports of Cocoa; Paste, Not Defatted in Belarus

In 2022, the amount of cocoa; paste, not defatteds exported from Belarus rose significantly to 280 kg, with an increase of 12% against 2021. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +12.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.3% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 59%. As a result, the exports attained the peak of 312 kg. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cocoa; paste, not defatted exports expanded markedly to $970 in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 70%. As a result, the exports reached the peak of $1.1K. From 2021 to 2022, the growth of the exports remained at a lower figure.