Price for Cocoa; Paste, Not Defatted in Saudi Arabia - 2021
Contents:
- Price for Cocoa; Paste, Not Defatted in Saudi Arabia (CIF) - 2022
- Price for Cocoa; Paste, Not Defatted in Saudi Arabia (FOB) - 2022
- Imports of Cocoa; Paste, Not Defatted in Saudi Arabia
- Exports of Cocoa; Paste, Not Defatted in Saudi Arabia
Price for Cocoa; Paste, Not Defatted in Saudi Arabia (CIF) - 2022
In 2022, the average cocoa; paste, not defatted import price amounted to $3,956 per ton, reducing by -2.4% against the previous year. In general, the import price, however, enjoyed a mild increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 33% against the previous year. The import price peaked at $4,444 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($4,300 per ton) and Spain ($3,864 per ton), while the price for Cote d'Ivoire ($2,896 per ton) and Malaysia ($3,606 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Cocoa; Paste, Not Defatted in Saudi Arabia (FOB) - 2022
In 2022, the average cocoa; paste, not defatted export price amounted to $3,523 per ton, shrinking by -6.9% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices attained the maximum at $5,992 per ton in 2012; however, from 2013 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 Kuwait.
From 2012 to 2022, the rate of growth in terms of prices for Kuwait amounted to +5.9% per year.
Imports of Cocoa; Paste, Not Defatted in Saudi Arabia
In 2022, supplies from abroad of cocoa; paste, not defatteds decreased by -5.6% to 1.6K tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.1% over the period from 2020 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 13%. As a result, imports attained the peak of 1.7K tons, and then declined in the following year.
In value terms, cocoa; paste, not defatted imports contracted to $6.3M in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2020 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19%. As a result, imports attained the peak of $6.8M, and then reduced in the following year.
| Import of Cocoa; Paste, Not Defatted in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Spain | 0.5 | 1.7 | 1.9 | 94.9% | |
| Turkey | N/A | N/A | 1.6 | 0% | |
| Netherlands | 0.8 | 0.5 | 1.1 | 17.3% | |
| Ghana | 0.7 | 0.5 | 1.0 | 19.5% | |
| Malaysia | N/A | N/A | 0.2 | 0% | |
| Cote d'Ivoire | 3.6 | 3.8 | 0.1 | -83.3% | |
| Others | 0.1 | 0.3 | 0.4 | 100.0% | |
| Total | 5.8 | 6.8 | 6.3 | 4.2% | |
Top Suppliers of Cocoa; Paste, Not Defatted to Saudi Arabia in 2022:
- Spain (499.4 tons)
- Turkey (443.7 tons)
- Netherlands (252.0 tons)
- Ghana (249.1 tons)
- Malaysia (64.8 tons)
- Cote d'Ivoire (28.1 tons)
Exports of Cocoa; Paste, Not Defatted in Saudi Arabia
In 2022, after three years of growth, there was significant decline in shipments abroad of cocoa; paste, not defatteds, when their volume decreased by -15.1% to 16 tons. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 43%. As a result, the exports reached the peak of 19 tons, and then reduced markedly in the following year.
In value terms, cocoa; paste, not defatted exports declined sharply to $56K in 2022. In general, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 72% against the previous year. As a result, the exports reached the peak of $71K, and then dropped notably in the following year.
| Export of Cocoa; Paste, Not Defatted in Saudi Arabia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 30.0 | 28.0 | 70.7 | 56.0 | 23.1% |
| Netherlands | 1.4 | 6.9 | N/A | N/A | 392.9% |
| Malaysia | N/A | 6.2 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 31.4 | 41.2 | 70.7 | 56.0 | 21.3% |
Top Export Markets for Cocoa; Paste, Not Defatted from Saudi Arabia in 2022:
- Kuwait (15.9 tons)
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