Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines - 2023
Contents:
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (FOB) - 2022
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (CIF) - 2022
- Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines
- Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (FOB) - 2022
In 2022, the average export price for cocoa beans; whole or broken, raw or roasteds amounted to $2,862 per ton, with an increase of 8.5% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for cocoa beans; whole or broken, raw or roasteds increased by +21.2% against 2017 indices. The pace of growth appeared the most rapid in 2013 an increase of 38%. Over the period under review, the average export prices hit record highs at $3,041 per ton in 2015; however, from 2016 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 highest price was recorded for prices to Vietnam ($3,293 per ton) and Indonesia ($2,992 per ton), while the average price for exports to Malaysia ($2,744 per ton) and Singapore ($2,979 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 (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (CIF) - 2022
In 2022, the average import price for cocoa beans; whole or broken, raw or roasteds amounted to $2,741 per ton, remaining stable against the previous year. In general, the import price, however, recorded mild growth. The most prominent rate of growth was recorded in 2014 an increase of 23% against the previous year. As a result, import price reached the peak level of $3,217 per ton. From 2015 to 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ecuador ($2,835 per ton) and Madagascar ($2,757 per ton), while the price for Papua New Guinea ($2,611 per ton) and Indonesia ($2,715 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines
In 2022, overseas shipments of cocoa beans; whole or broken, raw or roasteds decreased by -37.2% to 2.8K tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2020 when exports increased by 69% against the previous year. As a result, the exports reached the peak of 5.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of cocoa beans; whole or broken, raw or roasteds fell sharply to $7.9M in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 74% against the previous year. As a result, the exports reached the peak of $14M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 7.2 | 10.5 | 10.4 | 7.0 | -0.9% |
| Vietnam | 0.1 | 0.1 | N/A | 0.2 | 26.0% |
| Indonesia | 0.2 | 1.0 | 0.8 | 0.2 | 0.0% |
| Others | 0.3 | 2.0 | 0.4 | 0.5 | 18.6% |
| Total | 7.9 | 13.7 | 11.7 | 7.9 | 0.0% |
Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from the Philippines in 2022:
- Malaysia (2568.6 tons)
- Vietnam (66.4 tons)
- Indonesia (60.0 tons)
Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines
In 2022, imports of cocoa beans; whole or broken, raw or roasteds into the Philippines skyrocketed to 641 tons, with an increase of 42% compared with the previous year. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 210% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of cocoa beans; whole or broken, raw or roasteds surged to $1.8M in 2022. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when imports increased by 197%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Cocoa Beans; Whole or Broken, Raw or Roasted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Indonesia | N/A | 658 | 1,222 | 85.7% | |
| Ecuador | 111 | 452 | 284 | 60.0% | |
| Madagascar | N/A | 144 | 207 | 43.8% | |
| Papua New Guinea | N/A | N/A | 39.2 | 0% | |
| Netherlands | 152 | N/A | 4.5 | -82.8% | |
| Malaysia | 158 | N/A | N/A | 0% | |
| Others | 0.8 | 0.5 | 0.3 | -38.8% | |
| Total | 422 | 1,255 | 1,757 | 104.0% | |
Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to the Philippines in 2022:
- Indonesia (450.0 tons)
- Ecuador (100.3 tons)
- Madagascar (75.0 tons)
- Papua New Guinea (15.0 tons)
- Netherlands (0.4 tons)
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