Price for Cocoa; Paste; Whether or Not Defatted in Chile - 2023

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

In December 2023, the average import price for cocoa; paste; whether or not defatteds amounted to $5,259 per ton, surging by 13% against the previous month. Over the period under review, import price indicated a perceptible expansion from December 2022 to December 2023: its price increased at an average monthly rate of +2.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for cocoa; paste; whether or not defatteds increased by +13.5% against November 2023 indices. The pace of growth was the most pronounced in September 2023 when the average import price increased by 130% month-to-month. As a result, import price reached the peak level of $6,753 per ton. From October 2023 to December 2023, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In December 2023, the country with the highest price was Peru ($5,381 per ton), while the price for Brazil ($4,177 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Ecuador (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

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

The average export price for cocoa; paste; whether or not defatteds stood at $2,970 per ton in 2022, which is down by -7.8% against the previous year. Over the period under review, the export price recorded a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of 43%. The export price peaked at $4,390 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($2,995 per ton), while the average price for exports to Spain totaled $2,024 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-2.6%).

Imports of Cocoa; Paste; Whether or Not Defatted in Chile

After three years of growth, purchases abroad of cocoa; paste; whether or not defatteds decreased by -22.8% to 3.2K tons in 2022. Overall, total imports indicated a perceptible expansion 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 growth pace was the most rapid in 2021 when imports increased by 34%. As a result, imports attained the peak of 4.2K tons, and then dropped sharply in the following year.

In value terms, imports of cocoa; paste; whether or not defatteds dropped rapidly to $13M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.2% 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 +16.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38%. As a result, imports reached the peak of $17M, and then dropped dramatically in the following year.

Import of Cocoa; Paste; Whether or Not Defatted in Chile (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ecuador	6.0	5.5	8.3	8.0	10.1%
Brazil	1.7	3.4	6.1	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	0.4	0.2	-26.3%
Total	10.9	12.1	16.8	12.7	5.2%

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

Ecuador (2143.9 tons)
Brazil (487.5 tons)
Cote d'Ivoire (216.0 tons)
Peru (183.0 tons)
Indonesia (120.0 tons)
Spain (50.0 tons)

Exports of Cocoa; Paste; Whether or Not Defatted in Chile

For the fourth consecutive year, Chile recorded growth in shipments abroad of cocoa; paste; whether or not defatteds, which increased by 31% to 177 tons in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 826%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of cocoa; paste; whether or not defatteds soared to $526K in 2022. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 853% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.