Price for Cocoa; Paste, Not Defatted in the Philippines - 2023
Contents:
- Price for Cocoa; Paste, Not Defatted in the Philippines (CIF) - 2022
- Price for Cocoa; Paste, Not Defatted in the Philippines (FOB) - 2022
- Imports of Cocoa; Paste, Not Defatted in the Philippines
- Exports of Cocoa; Paste, Not Defatted in the Philippines
Price for Cocoa; Paste, Not Defatted in the Philippines (CIF) - 2022
In 2022, the average cocoa; paste, not defatted import price amounted to $3,913 per ton, therefore, remained relatively stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 24% against the previous year. As a result, import price reached the peak level of $4,514 per ton. From 2018 to 2022, the average 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 United States ($14,926 per ton), while the price for Indonesia ($2,794 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa; Paste, Not Defatted in the Philippines (FOB) - 2022
The average cocoa; paste, not defatted export price stood at $2,541 per ton in 2022, leveling off at the previous year. Overall, the export price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 when the average export price increased by 76%. Over the period under review, the average export prices hit record highs at $5,255 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Germany.
From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to -4.7% per year.
Imports of Cocoa; Paste, Not Defatted in the Philippines
In 2022, overseas purchases of cocoa; paste, not defatteds were finally on the rise to reach 669 tons after two years of decline. In general, imports, however, recorded a abrupt decline.
In value terms, cocoa; paste, not defatted imports rose remarkably to $2.6M in 2022. Overall, imports, however, continue to indicate a abrupt shrinkage.
| Import of Cocoa; Paste, Not Defatted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,896 | 1,081 | 898 | 1,024 | -18.6% |
| Ghana | 412 | 557 | 351 | 393 | -1.6% |
| Malaysia | 316 | 90.1 | 406 | 371 | 5.5% |
| United States | 353 | 186 | 261 | 266 | -9.0% |
| Singapore | 285 | 161 | 243 | 265 | -2.4% |
| Nigeria | N/A | 585 | N/A | N/A | 0% |
| Others | 15.1 | 9.5 | 122 | 301 | 171.1% |
| Total | 3,277 | 2,670 | 2,281 | 2,620 | -7.2% |
Top Suppliers of Cocoa; Paste, Not Defatted to the Philippines in 2022:
- Indonesia (366.5 tons)
- Ghana (128.5 tons)
- Malaysia (96.9 tons)
- Singapore (47.3 tons)
- United States (17.8 tons)
Exports of Cocoa; Paste, Not Defatted in the Philippines
In 2022, the amount of cocoa; paste, not defatteds exported from the Philippines soared to 40 tons, jumping by 22% on the year before. Overall, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 669%. As a result, the exports attained the peak of 48 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, cocoa; paste, not defatted exports surged to $103K in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2020 when exports increased by 1,252%. As a result, the exports reached the peak of $122K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Cocoa; Paste, Not Defatted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 8.5 | 119 | 80.3 | 102 | 128.9% |
| Netherlands | N/A | N/A | 1.6 | N/A | 0% |
| Others | 0.5 | 2.4 | 2.3 | 0.6 | 6.3% |
| Total | 9.0 | 122 | 84.2 | 103 | 125.4% |
Top Export Markets for Cocoa; Paste, Not Defatted from the Philippines in 2022:
- Germany (39.7 tons)
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This report provides an in-depth analysis of the global cocoa paste market.
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