Price for Cocoa; Paste, Not Defatted in the Dominican Republic - 2023

Price for Cocoa; Paste, Not Defatted in the Dominican Republic (FOB) - 2022

The average cocoa; paste, not defatted export price stood at $4,513 per ton in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 22%. The export price peaked at $4,828 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($8,175 per ton), while the average price for exports to the United States ($2,962 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cocoa; Paste, Not Defatted in the Dominican Republic (CIF) - 2022

In 2022, the average cocoa; paste, not defatted import price amounted to $4,752 per ton, almost unchanged from the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average import price increased by 49%. As a result, import price reached the peak level of $5,866 per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($12,323 per ton), while the price for Peru ($4,664 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cocoa; Paste, Not Defatted in the Dominican Republic

After three years of growth, shipments abroad of cocoa; paste, not defatteds decreased by -30.2% to 192 tons in 2022. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 145%. As a result, the exports attained the peak of 275 tons, and then dropped notably in the following year.

In value terms, cocoa; paste, not defatted exports fell rapidly to $865K in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 143% against the previous year. As a result, the exports reached the peak of $1.2M, and then declined markedly in the following year.

Export of Cocoa; Paste, Not Defatted in the Dominican Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	93.3	112	331	249	38.7%
Germany	77.7	136	229	128	18.1%
Italy	16.1	28.0	110	98.5	82.9%
Canada	5.4	18.5	132	96.3	161.3%
Guatemala	49.8	51.6	112	85.7	19.8%
Singapore	12.0	37.2	106	79.8	88.1%
China	70.0	35.7	75.5	56.5	-6.9%
New Zealand	10.5	33.6	49.0	20.1	24.2%
Trinidad and Tobago	7.4	26.5	40.9	19.1	37.2%
United States	11.6	20.8	16.7	10.5	-3.3%
Others	8.5	6.1	23.9	22.0	37.3%
Total	362	505	1,225	865	33.7%

Top Export Markets for Cocoa; Paste, Not Defatted from the Dominican Republic in 2022:

France (58.7 tons)
Germany (33.7 tons)
Canada (20.2 tons)
Italy (19.2 tons)
Singapore (16.9 tons)
China (16.9 tons)
Guatemala (10.5 tons)
Trinidad and Tobago (6.0 tons)
United States (3.6 tons)
New Zealand (3.3 tons)

Imports of Cocoa; Paste, Not Defatted in the Dominican Republic

In 2022, supplies from abroad of cocoa; paste, not defatteds was finally on the rise to reach 3.8 tons after two years of decline. In general, imports, however, faced a abrupt downturn.

In value terms, cocoa; paste, not defatted imports stood at $18K in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage.