Price for Cocoa; Paste, Wholly or Partly Defatted in China - 2023

Contents:

1. Price for Cocoa; Paste, Wholly or Partly Defatted in China (FOB) - 2022
2. Price for Cocoa; Paste, Wholly or Partly Defatted in China (CIF) - 2023
3. Exports of Cocoa; Paste, Wholly or Partly Defatted in China
4. Imports of Cocoa; Paste, Wholly or Partly Defatted in China

Price for Cocoa; Paste, Wholly or Partly Defatted in China (FOB) - 2022

The average export price for cocoa; paste, wholly or partly defatted stood at $2,175 per ton in 2022, rising by 22% against the previous year. Over the period under review, the export price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices attained the maximum at $3,814 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($2,228 per ton) and Indonesia ($2,212 per ton), while the average price for exports to Germany ($1,952 per ton) and Russia ($2,098 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 Malaysia (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cocoa; Paste, Wholly or Partly Defatted in China (CIF) - 2023

In December 2023, the average import price for cocoa; paste, wholly or partly defatted amounted to $1,068 per ton, jumping by 36% against the previous month. Over the period under review, the import price recorded a pronounced increase. The growth pace was the most rapid in June 2023 when the average import price increased by 90% m-o-m. The import price peaked at $1,221 per ton in September 2023; however, from October 2023 to December 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From December 2022 to December 2023, the rate of growth in terms of prices for Ghana amounted to +0.6% per month.

Exports of Cocoa; Paste, Wholly or Partly Defatted in China

In 2022, overseas shipments of cocoa; paste, wholly or partly defatted were finally on the rise to reach 1.8K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a sharp decrease.

In value terms, exports of cocoa; paste, wholly or partly defatted skyrocketed to $3.9M in 2022. In general, exports, however, showed a abrupt contraction.

Top Export Markets for Cocoa; Paste, Wholly or Partly Defatted from China in 2022:

1. Indonesia (1415.4 tons)
2. Germany (239.9 tons)
3. Malaysia (72.0 tons)
4. Russia (48.0 tons)

Imports of Cocoa; Paste, Wholly or Partly Defatted in China

In 2022, purchases abroad of cocoa; paste, wholly or partly defatted decreased by -28.9% to 2.8K tons, falling for the second consecutive year after two years of growth. Overall, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 111% against the previous year. As a result, imports attained the peak of 4K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cocoa; paste, wholly or partly defatted contracted to $2.3M in 2022. The total import value increased at an average annual rate of +6.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year.

Top Suppliers of Cocoa; Paste, Wholly or Partly Defatted to China in 2022:

1. Ghana (1476.3 tons)
2. Malaysia (752.0 tons)
3. Netherlands (231.1 tons)
4. Spain (75.0 tons)

Source: IndexBox Market Intelligence Platform