Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the United States - 2023
Contents:
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the United States (CIF) - 2023
- Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the United States (FOB) - 2023
- Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States
- Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States
Price for Cocoa Beans; Whole or Broken, Raw or Roasted in the United States (CIF) - 2023
The average import price for cocoa beans; whole or broken, raw or roasteds stood at $3,975 per ton in December 2023, picking up by 20% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +3.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In December 2023, the countries with the highest prices were Ghana ($4,201 per ton) and Ecuador ($4,069 per ton), while the price for Papua New Guinea ($3,068 per ton) and Democratic Republic of the Congo ($3,148 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Ecuador (+4.3%), 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 United States (FOB) - 2023
The average export price for cocoa beans; whole or broken, raw or roasteds stood at $3,575 per ton in December 2023, surging by 1.7% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.6%. The pace of growth appeared the most rapid in September 2023 an increase of 11% against the previous month. As a result, the export price reached the peak level of $3,611 per ton; afterwards, it flattened through to December 2023.
Average prices varied somewhat for the major export markets. In December 2023, the country with the highest price was Belgium ($4,900 per ton), while the average price for exports to Canada ($3,533 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States
After three years of growth, supplies from abroad of cocoa beans; whole or broken, raw or roasteds decreased by -27.2% to 343K tons in 2022. Overall, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2021 when imports increased by 25%. As a result, imports reached the peak of 471K tons, and then declined remarkably in the following year.
In value terms, imports of cocoa beans; whole or broken, raw or roasteds dropped rapidly to $899M in 2022. In general, imports showed a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 27%. As a result, imports reached the peak of $1.3B, and then shrank sharply in the following year.
| Import of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 498 | 506 | 749 | 448 | -3.5% |
| Ecuador | 120 | 184 | 197 | 170 | 12.3% |
| Ghana | 181 | 139 | 135 | 139 | -8.4% |
| Dominican Republic | 68.6 | 57.7 | 45.7 | 55.6 | -6.8% |
| Democratic Republic of the Congo | 6.1 | 11.7 | 20.4 | 23.4 | 56.5% |
| Nigeria | 8.5 | 11.8 | 51.6 | 16.3 | 24.2% |
| Papua New Guinea | 11.4 | 29.8 | 19.1 | 13.9 | 6.8% |
| Others | 37.7 | 55.6 | 45.0 | 32.0 | -5.3% |
| Total | 931 | 996 | 1,262 | 899 | -1.2% |
Top Suppliers of Cocoa Beans; Whole or Broken, Raw or Roasted to the United States in 2022:
- Cote d'Ivoire (171.1K tons)
- Ecuador (69.8K tons)
- Ghana (52.3K tons)
- Dominican Republic (19.4K tons)
- Democratic Republic of the Congo (8.4K tons)
- Nigeria (6.5K tons)
- Papua New Guinea (5.9K tons)
Exports of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States
In 2022, shipments abroad of cocoa beans; whole or broken, raw or roasteds decreased by -46.7% to 4.6K tons, falling for the second year in a row after two years of growth. Overall, exports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 26%. As a result, the exports reached the peak of 11K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of cocoa beans; whole or broken, raw or roasteds reduced sharply to $14M in 2022. In general, exports saw a sharp downturn. The growth pace was the most rapid in 2020 with an increase of 18%. As a result, the exports attained the peak of $33M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Cocoa Beans; Whole or Broken, Raw or Roasted in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 23.4 | 31.6 | 19.7 | 11.3 | -21.5% |
| Belgium | 0.3 | 0.1 | 1.1 | 0.9 | 44.2% |
| Netherlands | 0.7 | 0.9 | 1.3 | 0.5 | -10.6% |
| Germany | 0.3 | 0.1 | 0.6 | 0.3 | 0.0% |
| Ecuador | N/A | N/A | 0.1 | 0.3 | 200.0% |
| Others | 3.4 | 0.6 | 2.3 | 0.4 | -51.0% |
| Total | 28.1 | 33.2 | 25.1 | 13.7 | -21.3% |
Top Export Markets for Cocoa Beans; Whole or Broken, Raw or Roasted from the United States in 2022:
- Canada (3752.8 tons)
- Belgium (299.3 tons)
- Netherlands (157.4 tons)
- Germany (142.2 tons)
- Ecuador (125.4 tons)
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