Price for Cocoa; Paste; Whether or Not Defatted in Thailand - 2023

Price for Cocoa; Paste; Whether or Not Defatted in Thailand (CIF) - 2023

The average import price for cocoa; paste; whether or not defatteds stood at $5,808 per ton in November 2023, remaining constant against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.7%. The growth pace was the most rapid in October 2023 when the average import price increased by 21% m-o-m. Over the period under review, average import prices hit record highs in November 2023.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was Peru ($6,579 per ton), while the price for Ghana ($5,174 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Ghana (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cocoa; Paste; Whether or Not Defatted in Thailand (FOB) - 2023

In November 2023, the average export price for cocoa; paste; whether or not defatteds amounted to $5,980 per ton, waning by -47.4% against the previous month. Over the period under review, the export price saw a sharp descent. As a result, the export price reached the peak level of $11,376 per ton, and then dropped sharply in the following month.

As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).

From October 2023 to November 2023, the rate of growth in terms of prices for Taiwan (Chinese) amounted to 0.0% per month.

Imports of Cocoa; Paste; Whether or Not Defatted in Thailand

In 2022, imports of cocoa; paste; whether or not defatteds into Thailand declined to 2.3K tons, with a decrease of -2.6% on the year before. The total import volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 22%. As a result, imports attained the peak of 2.3K tons, and then reduced modestly in the following year.

In value terms, imports of cocoa; paste; whether or not defatteds fell modestly to $9.6M in 2022. The total import value increased at an average annual rate of +7.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of $9.9M, and then contracted modestly in the following year.

Import of Cocoa; Paste; Whether or Not Defatted in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	5.7	6.3	7.0	7.4	9.1%
Ghana	1.0	1.0	0.9	1.5	14.5%
Singapore	0.3	0.2	1.0	0.4	10.1%
Indonesia	0.6	0.6	0.9	0.3	-20.6%
Others	0.3	0.3	0.1	N/A	-42.3%
Total	7.8	8.4	9.9	9.6	7.2%

Top Suppliers of Cocoa; Paste; Whether or Not Defatted to Thailand in 2022:

Malaysia (1645.3 tons)
Ghana (429.6 tons)
Singapore (107.4 tons)
Indonesia (74.0 tons)

Exports of Cocoa; Paste; Whether or Not Defatted in Thailand

In 2022, the amount of cocoa; paste; whether or not defatteds exported from Thailand surged to 20 tons, with an increase of 41% on 2021 figures. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 4,732% against the previous year. As a result, the exports reached the peak of 40 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of cocoa; paste; whether or not defatteds shrank to $71K in 2022. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 4,356%. As a result, the exports attained the peak of $128K. From 2021 to 2022, the growth of the exports of failed to regain momentum.