Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the UK - 2023
Contents:
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (CIF) - 2023
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (FOB) - 2023
- Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK
- Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (CIF) - 2023
The average import price for cocoa beans; whole or broken, raw or roasteds stood at $7,244 per ton in November 2023, picking up by 2.2% against the previous month. Over the period under review, the import price posted strong growth. The pace of growth was the most pronounced in May 2023 when the average import price increased by 810% against the previous month. As a result, import price reached the peak level of $25,180 per ton. From June 2023 to November 2023, the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the countries with the highest prices were Ecuador ($7,989 per ton) and Ghana ($7,931 per ton), while the price for the Dominican Republic ($6,230 per ton) and the Netherlands ($6,724 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (FOB) - 2023
In November 2023, the average export price for cocoa beans; whole or broken, raw or roasteds amounted to $2,870 per ton, waning by -14.4% against the previous month. Overall, the export price recorded a abrupt descent. The pace of growth appeared the most rapid in February 2023 an increase of 222% against the previous month. The export price peaked at $10,957 per ton in August 2023; however, from September 2023 to November 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the Netherlands.
From November 2022 to November 2023, the rate of growth in terms of prices for Estonia amounted to +5.4% per month.
Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK
In 2022, overseas purchases of cocoa beans; whole or broken, raw or roasteds decreased by -14.5% to 68K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 17%. As a result, imports attained the peak of 116K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of cocoa beans; whole or broken, raw or roasteds reduced dramatically to $180M in 2022. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2020 when imports increased by 26% against the previous year. As a result, imports reached the peak of $313M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 123 | 157 | 154 | 157 | 8.5% |
| Ghana | 23.7 | 52.5 | 24.4 | 18.1 | -8.6% |
| France | 89.5 | 98.3 | 62.5 | 0.2 | -86.9% |
| Others | 12.5 | 5.4 | 5.6 | 4.8 | -27.3% |
| Total | 248 | 313 | 247 | 180 | -10.1% |
Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to the UK in 2022:
- Cote d'Ivoire (59.6K tons)
- Ghana (7.2K tons)
Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK
In 2022, exports of cocoa beans; whole or broken, raw or roasteds from the UK contracted slightly to 227 tons, dropping by -3.7% against the previous year's figure. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 50% against the previous year. As a result, the exports attained the peak of 235 tons, and then shrank slightly in the following year.
In value terms, exports of cocoa beans; whole or broken, raw or roasteds dropped slightly to $852K in 2022. Over the period under review, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 19%.
| Export of Cocoa Beans; Whole or Broken, Raw or Roasted in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | N/A | N/A | N/A | 247 | 0% |
| Ireland | 118 | 117 | 29.5 | 195 | 18.2% |
| Hong Kong SAR | N/A | 1.4 | 11.9 | 126 | 848.7% |
| Netherlands | 323 | 116 | 448 | 82.4 | -36.6% |
| South Africa | 1.2 | N/A | N/A | 74.2 | 295.4% |
| Australia | 1.5 | N/A | 19.7 | 55.5 | 233.2% |
| Estonia | 5.3 | 2.7 | 110 | 24.3 | 66.1% |
| Poland | 86.2 | 108 | 35.9 | 3.6 | -65.3% |
| Sweden | 42.6 | 32.7 | 12.4 | 1.4 | -68.0% |
| Japan | 135 | N/A | 48.2 | N/A | -40.2% |
| Germany | 85.7 | 68.2 | 40.6 | N/A | -31.2% |
| Czech Republic | 60.0 | 98.8 | N/A | N/A | 64.7% |
| Others | 252 | 181 | 109 | 42.9 | -44.6% |
| Total | 1,109 | 726 | 865 | 852 | -8.4% |
Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from the UK in 2022:
- Indonesia (117.9 tons)
- Netherlands (30.6 tons)
- Ireland (21.3 tons)
- South Africa (19.3 tons)
- Australia (15.7 tons)
- Hong Kong SAR (11.9 tons)
- Estonia (4.2 tons)
- Poland (0.6 tons)
- Sweden (0.1 tons)
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