Price for Cocoa; Paste, Not Defatted in Panama - 2023

Contents:

1. Price for Cocoa; Paste, Not Defatted in Panama (FOB) - 2022
2. Price for Cocoa; Paste, Not Defatted in Panama (CIF) - 2022
3. Exports of Cocoa; Paste, Not Defatted in Panama
4. Imports of Cocoa; Paste, Not Defatted in Panama

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

The average cocoa; paste, not defatted export price stood at $2,712 per ton in 2022, reducing by -9.2% against the previous year. Over the period under review, the export price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 74%. As a result, the export price attained the peak level of $3,947 per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($3,020 per ton), while the average price for exports to the United States ($2,000 per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+0.6%), while the prices for the other major destinations experienced a decline.

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

The average cocoa; paste, not defatted import price stood at $4,186 per ton in 2022, growing by 3.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 100%. The import price peaked at $5,255 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($9,000 per ton), while the price for Colombia totaled $4,032 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+11.4%), while the prices for the other major suppliers experienced a decline.

Exports of Cocoa; Paste, Not Defatted in Panama

In 2022, the amount of cocoa; paste, not defatteds exported from Panama fell remarkably to 52 tons, shrinking by -79.3% on 2021. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,898%. As a result, the exports attained the peak of 250 tons, and then fell remarkably in the following year.

In value terms, cocoa; paste, not defatted exports declined remarkably to $140K in 2022. Overall, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 1,951% against the previous year. As a result, the exports reached the peak of $746K, and then declined significantly in the following year.

Top Export Markets for Cocoa; Paste, Not Defatted from Panama in 2022:

1. Cuba (25.0 tons)
2. United States (15.4 tons)
3. Spain (11.3 tons)

Imports of Cocoa; Paste, Not Defatted in Panama

Cocoa; paste, not defatted imports into Panama soared to 19 tons in 2022, jumping by 20% on 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 21% against the previous year. As a result, imports reached the peak of 23 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cocoa; paste, not defatted imports surged to $81K in 2022. The total import value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

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

1. Colombia (18.7 tons)
2. Ecuador (0.6 tons)

Source: IndexBox Market Intelligence Platform