Price for Cocoa; Paste, Not Defatted in Morocco - 2022

Price for Cocoa; Paste, Not Defatted in Morocco (CIF) - 2022

In 2022, the average cocoa; paste, not defatted import price amounted to $3,631 per ton, waning by -5.3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 22%. The import price peaked at $4,279 per ton in 2016; however, from 2017 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 ($4,904 per ton), while the price for Italy ($3,027 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cocoa; Paste, Not Defatted in Morocco (FOB) - 2022

The average cocoa; paste, not defatted export price stood at $3,703 per ton in 2022, flattening at the previous year. Over the period under review, the export price showed a pronounced increase. The growth pace was the most rapid in 2020 a decrease of 99.9%. The export price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2019 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +4.9% per year.

Imports of Cocoa; Paste, Not Defatted in Morocco

Cocoa; paste, not defatted imports into Morocco soared to 1.6K tons in 2022, increasing by 19% compared with 2021 figures. Overall, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 221%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, cocoa; paste, not defatted imports expanded rapidly to $5.6M in 2022. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of 247% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Import of Cocoa; Paste, Not Defatted in Morocco (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	2,317	926	1,992	2,034	-4.2%
Ghana	54.1	225	265	271	71.1%
Spain	387	165	318	169	-24.1%
Italy	48.5	79.0	131	83.1	19.7%
Netherlands	847	15.2	14.4	13.0	-75.1%
Others	54.8	34.7	2,290	3,067	282.5%
Total	3,709	1,445	5,010	5,637	15.0%

Top Suppliers of Cocoa; Paste, Not Defatted to Morocco in 2022:

Cote d'Ivoire (518.0 tons)
Ghana (72.0 tons)
Spain (48.7 tons)
Italy (27.5 tons)
Netherlands (2.6 tons)

Exports of Cocoa; Paste, Not Defatted in Morocco

In 2022, overseas shipments of cocoa; paste, not defatteds decreased by -50% to 45 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, enjoyed a significant expansion.

In value terms, cocoa; paste, not defatted exports dropped notably to $167K in 2022. In general, exports, however, continue to indicate a significant increase.