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

Price for Cocoa; Paste; Whether or Not Defatted in Morocco (CIF) - 2022

In 2022, the average import price for cocoa; paste; whether or not defatteds amounted to $3,480 per ton, waning by -9.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $4,290 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ghana ($4,022 per ton), while the price for Cote d'Ivoire ($3,427 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for cocoa; paste; whether or not defatteds stood at $3,261 per ton in 2022, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 64% against the previous year. As a result, the export price reached the peak level of $5,196 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($4,000 per ton), while the average price for exports to the Netherlands totaled $3,261 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+2.7%).

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

In 2022, the amount of cocoa; paste; whether or not defatteds imported into Morocco surged to 1.7K tons, jumping by 26% compared with the year before. Over the period under review, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 223% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, imports of cocoa; paste; whether or not defatteds expanded remarkably to $5.8M in 2022. In general, imports showed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 248% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Import of Cocoa; Paste; Whether or Not Defatted in Morocco (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	2,322	925	3,640	5,038	29.5%
Ghana	54.2	225	484	503	110.1%
Spain	388	165	599	194	-20.6%
Italy	48.6	78.9	239	N/A	121.8%
Netherlands	849	15.2	26.3	N/A	-82.4%
Others	60.3	37.8	47.0	18.1	-33.0%
Total	3,722	1,447	5,036	5,753	15.6%

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

Cote d'Ivoire (1470.0 tons)
Ghana (125.0 tons)
Spain (52.9 tons)

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

In 2022, approx. 184 kg of cocoa; paste; whether or not defatteds were exported from Morocco; which is down by -13.2% compared with the previous year's figure. Over the period under review, exports saw a deep reduction. The smallest decline of -12.8% was in 2021.

In value terms, exports of cocoa; paste; whether or not defatteds shrank to $600 in 2022. Overall, exports showed a deep contraction. The smallest decline of -12.2% was in 2020.