Price for Cocoa; Paste; Whether or Not Defatted in the Philippines - 2023
Contents:
- Price for Cocoa; Paste; Whether or Not Defatted in the Philippines (CIF) - 2023
- Price for Cocoa; Paste; Whether or Not Defatted in the Philippines (FOB) - 2022
- Imports of Cocoa; Paste; Whether or Not Defatted in the Philippines
- Exports of Cocoa; Paste; Whether or Not Defatted in the Philippines
Price for Cocoa; Paste; Whether or Not Defatted in the Philippines (CIF) - 2023
The average import price for cocoa; paste; whether or not defatteds stood at $4,813 per ton in September 2023, growing by 2.3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.4%. The growth pace was the most rapid in August 2023 an increase of 20% month-to-month. Over the period under review, average import prices attained the peak figure in September 2023.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the country with the highest price was Malaysia ($6,000 per ton), while the price for Ghana ($4,770 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa; Paste; Whether or Not Defatted in the Philippines (FOB) - 2022
In 2022, the average export price for cocoa; paste; whether or not defatteds amounted to $16,926 per ton, with an increase of 216% against the previous year. Over the period under review, the export price showed buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +21.3% per year.
Imports of Cocoa; Paste; Whether or Not Defatted in the Philippines
In 2022, overseas purchases of cocoa; paste; whether or not defatteds increased by 8.6% to 701 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a abrupt decline.
In value terms, imports of cocoa; paste; whether or not defatteds surged to $2.9M in 2022. Overall, imports, however, recorded a abrupt slump.
| Import of Cocoa; Paste; Whether or Not Defatted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 2,029 | 1,403 | 997 | 1,152 | -17.2% |
| Ghana | 369 | 612 | 331 | 838 | 31.4% |
| Singapore | 317 | 220 | 380 | 519 | 17.9% |
| Malaysia | 284 | 85.5 | 383 | 91.4 | -31.5% |
| China | 27.5 | 22.0 | 43.7 | 79.1 | 42.2% |
| United States | 254 | 66.3 | 85.1 | 1.0 | -84.2% |
| Nigeria | N/A | 555 | N/A | N/A | 0% |
| Netherlands | 127 | 21.7 | 9.2 | N/A | -73.1% |
| Others | 183 | 165 | 160 | 225 | 7.1% |
| Total | 3,590 | 3,150 | 2,389 | 2,905 | -6.8% |
Top Suppliers of Cocoa; Paste; Whether or Not Defatted to the Philippines in 2022:
- Indonesia (302.6 tons)
- Ghana (217.8 tons)
- Singapore (129.6 tons)
- Malaysia (24.0 tons)
- China (20.0 tons)
- United States (0.7 tons)
Exports of Cocoa; Paste; Whether or Not Defatted in the Philippines
In 2022, shipments abroad of cocoa; paste; whether or not defatteds decreased by -98.1% to 54 kg, falling for the second year in a row after two years of growth. In general, exports showed a sharp reduction. The growth pace was the most rapid in 2020 with an increase of 871%. As a result, the exports attained the peak of 38 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 declined dramatically to $914 in 2022. Overall, exports saw a significant decrease. The growth pace was the most rapid in 2020 with an increase of 1,257% against the previous year. As a result, the exports attained the peak of $122K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Cocoa; Paste; Whether or Not Defatted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | N/A | N/A | N/A | 0.9 | 0% |
| Taiwan (Chinese) | 1.9 | 42.3 | 0.1 | N/A | -77.1% |
| Germany | 6.6 | 76.0 | 13.9 | N/A | 45.1% |
| Others | 0.5 | 3.7 | 1.4 | N/A | 67.3% |
| Total | 9.0 | 122 | 15.4 | 0.9 | -53.6% |
Top Export Markets for Cocoa; Paste; Whether or Not Defatted from the Philippines in 2022:
- United Kingdom (54.0 kg)
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