Price for Cocoa; Paste, Not Defatted in Chile - 2023

Price for Cocoa; Paste, Not Defatted in Chile (CIF) - 2023

The average cocoa; paste, not defatted import price stood at $4,378 per ton in July 2023, leveling off at the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 5.7% against the previous month. The import price peaked in July 2023.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Peru ($4,617 per ton), while the price for Ecuador totaled $4,349 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Brazil (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average cocoa; paste, not defatted export price stood at $3,710 per ton in 2022, stabilizing at the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 43% against the previous year. The export price peaked at $4,390 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +0.6% per year.

Imports of Cocoa; Paste, Not Defatted in Chile

After three years of growth, overseas purchases of cocoa; paste, not defatteds decreased by -22.8% to 3.2K tons in 2022. In general, total imports indicated noticeable growth from 2019 to 2022: its volume increased at an average annual rate of +4.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, imports attained the peak of 4.2K tons, and then contracted rapidly in the following year.

In value terms, cocoa; paste, not defatted imports contracted remarkably to $13M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.2% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 38% against the previous year. As a result, imports attained the peak of $17M, and then shrank sharply in the following year.

Import of Cocoa; Paste, Not Defatted in Chile (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ecuador	6.0	5.5	8.1	8.0	10.1%
Brazil	1.7	3.4	5.9	2.1	7.3%
Cote d'Ivoire	1.6	1.8	0.9	0.9	-17.5%
Peru	0.2	0.2	0.2	0.7	51.8%
Indonesia	N/A	N/A	N/A	0.5	0%
Spain	0.3	0.1	0.4	0.2	-12.6%
Malaysia	0.7	0.4	0.4	N/A	-24.4%
Others	0.5	0.7	0.9	0.2	-26.3%
Total	10.9	12.1	16.7	12.7	5.2%

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

Ecuador (2143.9 tons)
Brazil (487.5 tons)
Cote d'Ivoire (216.0 tons)
Peru (181.0 tons)
Indonesia (120.0 tons)
Spain (50.0 tons)

Exports of Cocoa; Paste, Not Defatted in Chile

In 2022, approx. 76 tons of cocoa; paste, not defatteds were exported from Chile; picking up by 27% compared with the previous year. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 826% against the previous year. As a result, the exports attained the peak of 93 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa; paste, not defatted exports surged to $283K in 2022. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 853%. As a result, the exports reached the peak of $343K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.