Price for Cocoa; Paste, Not Defatted in the United States - 2023
Contents:
- Price for Cocoa; Paste, Not Defatted in the United States (CIF) - 2023
- Price for Cocoa; Paste, Not Defatted in the United States (FOB) - 2023
- Imports of Cocoa; Paste, Not Defatted in the United States
- Exports of Cocoa; Paste, Not Defatted in the United States
Price for Cocoa; Paste, Not Defatted in the United States (CIF) - 2023
In August 2023, the average cocoa; paste, not defatted import price amounted to $4,313 per ton, remaining relatively unchanged against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 5.3% m-o-m. Over the period under review, average import prices hit record highs in August 2023.
Average prices varied somewhat amongst the major supplying countries. In August 2023, the countries with the highest prices were Canada ($4,959 per ton) and Ecuador ($4,582 per ton), while the price for Ghana ($3,622 per ton) and Cote d'Ivoire ($4,150 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Nigeria (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa; Paste, Not Defatted in the United States (FOB) - 2023
The average cocoa; paste, not defatted export price stood at $4,343 per ton in August 2023, reducing by -2.9% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 11% against the previous month. The export price peaked at $4,518 per ton in February 2023; however, from March 2023 to August 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In August 2023, the country with the highest price was Canada ($4,344 per ton), while the average price for exports to Mexico stood at $4,048 per ton.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.3%).
Imports of Cocoa; Paste, Not Defatted in the United States
In 2022, cocoa; paste, not defatted imports into the United States rose sharply to 73K tons, picking up by 6.9% against 2021. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +16.2% 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 decreased by -6.3% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 67% against the previous year. As a result, imports reached the peak of 78K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, cocoa; paste, not defatted imports expanded rapidly to $283M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +18.2% 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 decreased by -6.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 76%. As a result, imports reached the peak of $302M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Cocoa; Paste, Not Defatted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 92.7 | 183 | 160 | 171 | 22.6% |
| Ghana | 30.2 | 36.8 | 35.7 | 35.1 | 5.1% |
| Ecuador | 18.8 | 44.7 | 31.9 | 33.3 | 21.0% |
| Canada | 12.0 | 15.5 | 20.2 | 28.8 | 33.9% |
| Others | 17.9 | 21.6 | 12.0 | 15.1 | -5.5% |
| Total | 171 | 302 | 260 | 283 | 18.3% |
Top Suppliers of Cocoa; Paste, Not Defatted to the United States in 2022:
- Cote d'Ivoire (45.7K tons)
- Ghana (9.6K tons)
- Ecuador (8.1K tons)
- Canada (6.0K tons)
Exports of Cocoa; Paste, Not Defatted in the United States
Cocoa; paste, not defatted exports from the United States surged to 13K tons in 2022, increasing by 24% compared with 2021. The total export volume increased at an average annual rate of +2.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 25% against the previous year. As a result, the exports attained the peak of 15K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, cocoa; paste, not defatted exports skyrocketed to $56M in 2022. The total export value increased at an average annual rate of +4.1% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period.
| Export of Cocoa; Paste, Not Defatted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 44.6 | 54.0 | 37.0 | 50.4 | 4.2% |
| Mexico | 1.2 | 0.9 | 3.6 | 4.9 | 59.8% |
| Russia | 3.3 | 3.5 | 5.4 | 0.6 | -43.3% |
| Others | 0.7 | 0.5 | 1.0 | 0.2 | -34.1% |
| Total | 49.7 | 58.9 | 47.0 | 56.1 | 4.1% |
Top Export Markets for Cocoa; Paste, Not Defatted from the United States in 2022:
- Canada (11.9K tons)
- Mexico (1.1K tons)
- Russia (0.1K tons)
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