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

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

The average cocoa; paste, not defatted import price stood at $4,999 per ton in July 2023, with an increase of 12% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($6,424 per ton), while the price for Ecuador ($3,953 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average cocoa; paste, not defatted export price stood at $4,333 per ton in 2022, shrinking by -15.5% against the previous year. Overall, the export price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 an increase of 19%. Over the period under review, the average export prices hit record highs at $6,694 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($5,307 per ton), while the average price for exports to China amounted to $4,281 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-1.8%), while the prices for the other major destinations experienced a decline.

Imports of Cocoa; Paste, Not Defatted in Japan

Cocoa; paste, not defatted imports into Japan rose sharply to 15K tons in 2022, picking up by 5.9% on the year before. Over the period under review, imports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 18%.

In value terms, cocoa; paste, not defatted imports stood at $60M in 2022. The total import value increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Import of Cocoa; Paste, Not Defatted in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	25.2	18.7	22.8	23.9	-1.8%
Ghana	16.1	12.3	16.0	16.7	1.2%
Ecuador	5.6	6.2	6.1	5.8	1.2%
Cote d'Ivoire	4.4	4.7	5.0	4.9	3.7%
Netherlands	2.2	1.5	2.4	2.1	-1.5%
Indonesia	1.3	2.3	1.3	1.6	7.2%
Spain	0.7	0.5	0.9	1.0	12.6%
Others	1.8	2.3	4.0	3.5	24.8%
Total	57.4	48.4	58.5	59.7	1.3%

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

Malaysia (5.8K tons)
Ghana (4.9K tons)
Ecuador (1.6K tons)
Cote d'Ivoire (1.3K tons)
Netherlands (0.5K tons)
Indonesia (0.4K tons)
Spain (0.3K tons)

Exports of Cocoa; Paste, Not Defatted in Japan

Cocoa; paste, not defatted exports from Japan surged to 349 tons in 2022, growing by 55% on the previous year. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 91%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, cocoa; paste, not defatted exports soared to $1.5M in 2022. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2020 when exports increased by 99% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.