Price for Cocoa; Paste, Wholly or Partly Defatted in Estonia - 2023
Contents:
- Price for Cocoa; Paste, Wholly or Partly Defatted in Estonia (CIF) - 2023
- Price for Cocoa; Paste, Wholly or Partly Defatted in Estonia (FOB) - 2022
- Imports of Cocoa; Paste, Wholly or Partly Defatted in Estonia
- Exports of Cocoa; Paste, Wholly or Partly Defatted in Estonia
Price for Cocoa; Paste, Wholly or Partly Defatted in Estonia (CIF) - 2023
The average import price for cocoa; paste, wholly or partly defatted stood at $2,883 per ton in October 2023, surging by 8.1% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.2%. The growth pace was the most rapid in August 2023 when the average import price increased by 18% month-to-month. The import price peaked in October 2023.
Average prices varied noticeably amongst the major supplying countries. In October 2023, the country with the highest price was Cote d'Ivoire ($2,911 per ton), while the price for Cameroon stood at $2,692 per ton.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa; Paste, Wholly or Partly Defatted in Estonia (FOB) - 2022
In 2022, the average export price for cocoa; paste, wholly or partly defatted amounted to $2,261 per ton, approximately mirroring the previous year. In general, the export price saw modest growth. The pace of growth was the most pronounced in 2015 an increase of 96% against the previous year. As a result, the export price reached the peak level of $3,424 per ton. From 2016 to 2022, the average 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 Russia ($2,520 per ton), while the average price for exports to Ukraine ($1,441 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 Kazakhstan (+40.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Cocoa; Paste, Wholly or Partly Defatted in Estonia
Imports of cocoa; paste, wholly or partly defatted into Estonia skyrocketed to 1.7K tons in 2022, rising by 825% against the previous year's figure. Overall, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of cocoa; paste, wholly or partly defatted soared to $3.7M in 2022. Over the period under review, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cocoa; Paste, Wholly or Partly Defatted in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ecuador | N/A | N/A | N/A | 1,399 | 0% |
| Cote d'Ivoire | 216 | 1.0 | 58.1 | 1,139 | 74.1% |
| Cameroon | N/A | N/A | N/A | 256 | 0% |
| Belize | N/A | N/A | N/A | 214 | 0% |
| Ghana | 51.5 | N/A | N/A | 149 | 42.5% |
| United States | 0.5 | 0.4 | 79.1 | 108 | 500.0% |
| China | 14.2 | N/A | N/A | 101 | 92.3% |
| Austria | N/A | N/A | 28.5 | 98.5 | 245.6% |
| Indonesia | 601 | 29.8 | N/A | N/A | -95.0% |
| Poland | N/A | N/A | 112 | N/A | 0% |
| Others | N/A | 0.8 | 29.0 | 251 | 1671.3% |
| Total | 883 | 32.1 | 307 | 3,717 | 61.5% |
Top Suppliers of Cocoa; Paste, Wholly or Partly Defatted to Estonia in 2022:
- Ecuador (600.0 tons)
- Cote d'Ivoire (553.7 tons)
- Cameroon (100.0 tons)
- Belize (96.9 tons)
- United States (86.8 tons)
- Ghana (66.2 tons)
- Austria (46.8 tons)
- China (40.0 tons)
Exports of Cocoa; Paste, Wholly or Partly Defatted in Estonia
For the third consecutive year, Estonia recorded decline in shipments abroad of cocoa; paste, wholly or partly defatted, which decreased by 0% to 1.3K tons in 2022. In general, exports recorded significant growth. The smallest decline of -76.4% was in 2020. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of cocoa; paste, wholly or partly defatted totaled $2.9M in 2022. Over the period under review, exports posted a significant expansion. The smallest decline of -69.4% was in 2020. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Cocoa; Paste, Wholly or Partly Defatted in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 508 | 149 | N/A | 2,291 | 65.2% |
| Ukraine | N/A | N/A | N/A | 436 | 0% |
| Poland | N/A | N/A | N/A | 169 | 0% |
| Others | N/A | 6.7 | N/A | 43.8 | 155.7% |
| Total | 508 | 156 | N/A | 2,940 | 79.5% |
Top Export Markets for Cocoa; Paste, Wholly or Partly Defatted from Estonia in 2022:
- Russia (908.9 tons)
- Ukraine (302.6 tons)
- Poland (72.4 tons)
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This report provides an in-depth analysis of the cocoa paste market in Estonia.
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