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

Price for Cocoa; Paste, Not Defatted in Slovakia (FOB) - 2023

The average cocoa; paste, not defatted export price stood at $4,620 per ton in June 2023, remaining stable against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in April 2023 an increase of 15% m-o-m. Over the period under review, the average export prices reached the maximum in June 2023.

Average prices varied noticeably for the major external markets. In June 2023, the countries with the highest prices were Russia ($4,688 per ton) and Bulgaria ($4,591 per ton), while the average price for exports to Lithuania ($4,591 per ton) and Germany ($4,591 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

In 2022, the average cocoa; paste, not defatted import price amounted to $3,742 per ton, with a decrease of -3.3% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 30%. The import price peaked at $4,382 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($17,066 per ton), while the price for Germany ($3,583 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+29.7%), while the prices for the other major suppliers experienced a decline.

Exports of Cocoa; Paste, Not Defatted in Slovakia

For the fourth consecutive year, Slovakia recorded growth in overseas shipments of cocoa; paste, not defatteds, which increased by 9.5% to 6.4K tons in 2022. The total export volume increased at an average annual rate of +12.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, cocoa; paste, not defatted exports expanded sharply to $27M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Export of Cocoa; Paste, Not Defatted in Slovakia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Russia	0.9	2.7	6.5	9.6	120.1%
Bulgaria	8.3	10.4	9.5	9.1	3.1%
Poland	2.9	4.2	4.2	3.6	7.5%
Germany	N/A	0.3	1.0	2.7	200.0%
Lithuania	3.4	4.4	4.3	2.0	-16.2%
Others	0.3	0.2	N/A	0.1	-30.7%
Total	15.8	22.1	25.6	27.0	19.6%

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

Russia (2.3K tons)
Bulgaria (2.2K tons)
Poland (0.9K tons)
Germany (0.7K tons)
Lithuania (0.5K tons)

Imports of Cocoa; Paste, Not Defatted in Slovakia

In 2022, the amount of cocoa; paste, not defatteds imported into Slovakia surged to 231 tons, increasing by 18% on the previous year's figure. Overall, imports saw resilient growth. The growth pace was the most rapid in 2020 with an increase of 208%. As a result, imports attained the peak of 595 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cocoa; paste, not defatted imports expanded notably to $864K in 2022. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 173%. As a result, imports attained the peak of $1.8M. From 2021 to 2022, the growth of imports remained at a lower figure.