Price for Cocoa; Paste; Whether or Not Defatted in the United States - 2023
Contents:
- Price for Cocoa; Paste; Whether or Not Defatted in the United States (CIF) - 2023
- Price for Cocoa; Paste; Whether or Not Defatted in the United States (FOB) - 2023
- Imports of Cocoa; Paste; Whether or Not Defatted in the United States
- Exports of Cocoa; Paste; Whether or Not Defatted in the United States
Price for Cocoa; Paste; Whether or Not Defatted in the United States (CIF) - 2023
The average import price for cocoa; paste; whether or not defatteds stood at $3,811 per ton in December 2023, growing by 4.1% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in May 2023 when the average import price increased by 9.6% month-to-month. Over the period under review, average import prices attained the peak figure at $4,003 per ton in September 2023; however, from October 2023 to December 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($5,168 per ton), while the price for Indonesia ($2,506 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 Nigeria (+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 the United States (FOB) - 2023
In December 2023, the average export price for cocoa; paste; whether or not defatteds amounted to $4,040 per ton, shrinking by -16.6% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in November 2023 when the average export price increased by 28% against the previous month. As a result, the export price attained the peak level of $4,847 per ton, and then declined dramatically in the following month.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was Mexico ($5,374 per ton), while the average price for exports to Brazil ($1,131 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Cocoa; Paste; Whether or Not Defatted in the United States
In 2022, the amount of cocoa; paste; whether or not defatteds imported into the United States skyrocketed to 155K tons, jumping by 25% against 2021 figures. The total import volume increased at an average annual rate of +15.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 29%. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, imports of cocoa; paste; whether or not defatteds skyrocketed to $490M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +19.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 44%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Cocoa; Paste; Whether or Not Defatted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 145 | 245 | 229 | 267 | 22.6% |
| Ghana | 37.6 | 43.1 | 53.9 | 80.8 | 29.0% |
| Ecuador | 18.8 | 44.8 | 31.9 | 33.3 | 21.0% |
| Cameroon | 19.6 | 19.3 | 20.4 | 30.8 | 16.3% |
| Canada | 12.0 | 15.5 | 20.2 | 28.8 | 33.9% |
| Indonesia | 20.9 | 12.7 | 9.0 | 23.2 | 3.5% |
| Malaysia | 11.1 | 5.9 | 1.9 | 4.9 | -23.9% |
| Others | 19.4 | 23.2 | 22.3 | 21.1 | 2.8% |
| Total | 285 | 409 | 388 | 490 | 19.8% |
Top Suppliers of Cocoa; Paste; Whether or Not Defatted to the United States in 2022:
- Cote d'Ivoire (83.5K tons)
- Ghana (26.8K tons)
- Cameroon (13.6K tons)
- Indonesia (9.9K tons)
- Ecuador (8.1K tons)
- Canada (6.0K tons)
- Malaysia (1.8K tons)
Exports of Cocoa; Paste; Whether or Not Defatted in the United States
In 2022, the amount of cocoa; paste; whether or not defatteds exported from the United States was estimated at 14K tons, with an increase of 9.6% compared with 2021. Overall, exports, however, continue to indicate a perceptible decrease.
In value terms, exports of cocoa; paste; whether or not defatteds rose markedly to $58M in 2022. In general, exports recorded a relatively flat trend pattern.
| Export of Cocoa; Paste; Whether or Not Defatted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 44.9 | 54.1 | 37.2 | 50.6 | 4.1% |
| Mexico | 3.1 | 3.4 | 6.5 | 4.9 | 16.5% |
| Brazil | 1.6 | 1.5 | 2.1 | 1.5 | -2.1% |
| Russia | 4.1 | 3.5 | 5.4 | 0.6 | -47.3% |
| Spain | 1.7 | N/A | 0.1 | 0.1 | -61.1% |
| Others | 0.9 | 0.3 | 0.5 | 0.3 | -30.7% |
| Total | 56.4 | 62.9 | 51.7 | 57.9 | 0.9% |
Top Export Markets for Cocoa; Paste; Whether or Not Defatted from the United States in 2022:
- Canada (12.1K tons)
- Mexico (1.2K tons)
- Brazil (0.7K tons)
- Russia (0.1K tons)
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