Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria - 2022
Contents:
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (FOB) - 2022
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (CIF) - 2022
- Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria
- Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (FOB) - 2022
In 2022, the average export price for cocoa beans; whole or broken, raw or roasteds amounted to $310 per ton, reducing by -87.1% against the previous year. In general, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 59%. As a result, the export price reached the peak level of $3,673 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($2,027 per ton), while the average price for exports to Spain ($169 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 Belgium (+3.3%), while the prices for the other major destinations experienced a decline.
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (CIF) - 2022
In 2022, the average import price for cocoa beans; whole or broken, raw or roasteds amounted to $375 per ton, declining by -14.4% against the previous year. Overall, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 123% against the previous year. Over the period under review, average import prices attained the maximum at $1,028 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($520 per ton), while the price for the UK ($2.6 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+43.3%), while the prices for the other major suppliers experienced a decline.
Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria
In 2022, the amount of cocoa beans; whole or broken, raw or roasteds exported from Nigeria skyrocketed to 1.8M tons, growing by 667% against 2021. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cocoa beans; whole or broken, raw or roasteds fell modestly to $555M in 2022. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 92%. As a result, the exports reached the peak of $560M, leveling off in the following year.
| Export of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 6.2 | 7.4 | 15.4 | 219 | 228.1% |
| Indonesia | 1.7 | 1.8 | 5.2 | 86.3 | 270.3% |
| Belgium | 1.6 | 1.5 | 3.0 | 75.9 | 262.0% |
| Germany | 2.6 | 1.5 | 5.4 | 41.8 | 152.4% |
| United States | 0.3 | 0.5 | 2.9 | 13.3 | 253.9% |
| Estonia | 0.3 | 0.3 | 0.3 | 7.5 | 192.4% |
| Spain | 0.3 | 0.2 | 0.6 | 6.3 | 175.9% |
| Barbados | 232 | 275 | 516 | N/A | 49.1% |
| Others | 3.4 | 4.5 | 10.9 | 105 | 213.7% |
| Total | 249 | 292 | 560 | 555 | 30.6% |
Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from Nigeria in 2022:
- Netherlands (1300.7K tons)
- Germany (221.2K tons)
- United States (57.1K tons)
- Indonesia (42.6K tons)
- Belgium (38.7K tons)
- Estonia (37.7K tons)
- Spain (37.3K tons)
Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria
In 2022, the amount of cocoa beans; whole or broken, raw or roasteds imported into Nigeria fell to 171 tons, waning by -6.5% compared with the previous year's figure. In general, imports recorded a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 0.1% against the previous year.
In value terms, imports of cocoa beans; whole or broken, raw or roasteds contracted remarkably to $64K in 2022. Over the period under review, imports showed a dramatic curtailment. The smallest decline of -20% was in 2021.
| Import of Cocoa Beans; Whole or Broken, Raw or Roasted in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 123 | 98.8 | 79.1 | 63.4 | -19.8% |
| Liberia | 1.1 | 0.7 | 0.5 | 0.3 | -35.2% |
| Germany | 0.4 | 0.4 | 0.3 | 0.3 | -9.1% |
| China | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| Spain | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| United Kingdom | 0.1 | N/A | N/A | N/A | 0% |
| Congo | N/A | N/A | N/A | N/A | 0% |
| United States | 0.1 | N/A | N/A | N/A | 0% |
| Others | 0.3 | 0.2 | 0.1 | 0.1 | -30.7% |
| Total | 125 | 100 | 80.3 | 64.2 | -19.9% |
Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to Nigeria in 2022:
- Netherlands (121.8 tons)
- Germany (14.8 tons)
- Liberia (9.5 tons)
- United Kingdom (6.7 tons)
- China (5.2 tons)
- Spain (4.3 tons)
- United States (4.2 tons)
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