Price for Cocoa; Paste, Not Defatted in Thailand - 2023
Contents:
- Price for Cocoa; Paste, Not Defatted in Thailand (CIF) - 2023
- Price for Cocoa; Paste, Not Defatted in Thailand (FOB) - 2022
- Imports of Cocoa; Paste, Not Defatted in Thailand
- Exports of Cocoa; Paste, Not Defatted in Thailand
Price for Cocoa; Paste, Not Defatted in Thailand (CIF) - 2023
In July 2023, the average cocoa; paste, not defatted import price amounted to $4,730 per ton, surging by 12% against the previous month. In general, the import price showed a modest expansion. The pace of growth was the most pronounced in November 2022 when the average import price increased by 20% month-to-month. The import price peaked in July 2023.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Malaysia ($4,986 per ton), while the price for Ghana totaled $3,160 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Cocoa; Paste, Not Defatted in Thailand (FOB) - 2022
The average cocoa; paste, not defatted export price stood at $3,801 per ton in 2022, with a decrease of -30.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 27%. The export price peaked at $5,523 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Singapore ($4,486 per ton) and Malaysia ($4,437 per ton), while the average price for exports to Japan ($3,079 per ton) and Vietnam ($3,371 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cocoa; Paste, Not Defatted in Thailand
In 2022, cocoa; paste, not defatted imports into Thailand expanded slightly to 2.4K tons, surging by 3.1% compared with 2021. The total import volume increased at an average annual rate of +3.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, cocoa; paste, not defatted imports rose modestly to $10M in 2022. The total import value increased at an average annual rate of +9.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Cocoa; Paste, Not Defatted in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.7 | 6.3 | 7.0 | 6.1 | 9.1% |
| Japan | 1.4 | N/A | N/A | 2.1 | 14.5% |
| Ghana | 0.8 | 1.0 | 0.9 | 1.3 | 17.6% |
| Singapore | 0.2 | 0.2 | 1.0 | 0.3 | 14.5% |
| Indonesia | 0.5 | 0.6 | 0.9 | 0.2 | -26.3% |
| Belgium | 0.2 | 0.3 | 0.1 | 0.2 | 0.0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 7.8 | 8.4 | 9.9 | 10.2 | 9.4% |
Top Suppliers of Cocoa; Paste, Not Defatted to Thailand in 2022:
- Malaysia (1428.3 tons)
- Japan (383.7 tons)
- Ghana (372.9 tons)
- Singapore (93.2 tons)
- Indonesia (64.2 tons)
- Belgium (34.3 tons)
Exports of Cocoa; Paste, Not Defatted in Thailand
In 2022, overseas shipments of cocoa; paste, not defatteds were finally on the rise to reach 27 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a mild shrinkage.
In value terms, cocoa; paste, not defatted exports soared to $103K in 2022. Overall, exports, however, recorded a abrupt contraction.
| Export of Cocoa; Paste, Not Defatted in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 38.3 | N/A | 73.8 | 40.3 | 1.7% |
| Japan | 88.9 | 128 | N/A | 40.3 | -23.2% |
| Singapore | 23.5 | N/A | N/A | 18.6 | -7.5% |
| Vietnam | 3.3 | N/A | N/A | 1.7 | -19.8% |
| Others | 3.6 | 0.9 | 4.1 | 2.3 | -13.9% |
| Total | 158 | 128 | 77.9 | 103 | -13.3% |
Top Export Markets for Cocoa; Paste, Not Defatted from Thailand in 2022:
- Japan (13.1 tons)
- Malaysia (9.1 tons)
- Singapore (4.1 tons)
- Vietnam (0.5 tons)
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This report provides an in-depth analysis of the cocoa paste market in Thailand.
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This report provides an in-depth analysis of the cocoa paste market in Thailand.
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