Price for Cocoa; Paste, Wholly or Partly Defatted in Ghana - 2023
Contents:
- Price for Cocoa; Paste, Wholly or Partly Defatted in Ghana (FOB) - 2023
- Price for Cocoa; Paste, Wholly or Partly Defatted in Ghana (CIF) - 2022
- Exports of Cocoa; Paste, Wholly or Partly Defatted in Ghana
- Imports of Cocoa; Paste, Wholly or Partly Defatted in Ghana
Price for Cocoa; Paste, Wholly or Partly Defatted in Ghana (FOB) - 2023
The average export price for cocoa; paste, wholly or partly defatted stood at $3,283 per ton in December 2023, increasing by 13% against the previous month. Over the period under review, the export price, however, showed a slight shrinkage. Over the period under review, the average export prices attained the maximum at $3,693 per ton in December 2022; however, from January 2023 to December 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In December 2023, the countries with the highest prices were Malaysia ($3,531 per ton) and Brazil ($3,528 per ton), while the average price for exports to Singapore ($2,940 per ton) and the United Arab Emirates ($2,952 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cocoa; Paste, Wholly or Partly Defatted in Ghana (CIF) - 2022
In 2022, the average import price for cocoa; paste, wholly or partly defatted amounted to $2,331 per ton, remaining stable against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cocoa; paste, wholly or partly defatted increased by +2.7% against 2017 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 63%. As a result, import price reached the peak level of $3,568 per ton. From 2016 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($4,214 per ton), while the price for South Africa ($2,062 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Cocoa; Paste, Wholly or Partly Defatted in Ghana
In 2022, after three years of growth, there was significant decline in shipments abroad of cocoa; paste, wholly or partly defatted, when their volume decreased by -6.8% to 45K tons. The total export volume increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16%. As a result, the exports attained the peak of 49K tons, and then dropped in the following year.
In value terms, exports of cocoa; paste, wholly or partly defatted contracted dramatically to $81M in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.3% 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 +45.5% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 63%. As a result, the exports attained the peak of $101M, and then shrank significantly in the following year.
| Export of Cocoa; Paste, Wholly or Partly Defatted in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.5 | 3.4 | 13.0 | 13.4 | 75.0% |
| Spain | 2.9 | 11.7 | 26.8 | 13.1 | 65.3% |
| France | 9.1 | 7.2 | 9.3 | 8.0 | -4.2% |
| Germany | 8.4 | 6.2 | 8.2 | 7.8 | -2.4% |
| Poland | 5.5 | 7.3 | 8.0 | 5.7 | 1.2% |
| South Africa | 1.1 | 2.1 | 3.3 | 3.4 | 45.7% |
| Malaysia | 3.2 | 2.3 | 5.2 | 2.9 | -3.2% |
| Indonesia | 0.5 | 0.7 | 2.2 | 2.6 | 73.2% |
| Singapore | 2.5 | 2.2 | 0.8 | 2.5 | 0.0% |
| Japan | 1.8 | 2.6 | 3.1 | 2.5 | 11.6% |
| Russia | 0.8 | 1.7 | 2.9 | 2.5 | 46.2% |
| Bulgaria | 0.4 | 1.4 | 1.1 | 1.2 | 44.2% |
| China | 1.8 | 0.4 | 0.4 | 0.7 | -27.0% |
| Others | 15.5 | 12.9 | 16.8 | 15.1 | -0.9% |
| Total | 55.9 | 61.9 | 101 | 81.4 | 13.3% |
Top Export Markets for Cocoa; Paste, Wholly or Partly Defatted from Ghana in 2022:
- Spain (8.0K tons)
- United States (7.2K tons)
- Poland (4.6K tons)
- Germany (4.5K tons)
- France (2.9K tons)
- Bulgaria (2.7K tons)
- South Africa (1.5K tons)
- Malaysia (1.5K tons)
- Russia (1.5K tons)
- Japan (1.3K tons)
- Singapore (1.2K tons)
- Indonesia (1.2K tons)
- China (1.2K tons)
Imports of Cocoa; Paste, Wholly or Partly Defatted in Ghana
In 2022, overseas purchases of cocoa; paste, wholly or partly defatted were finally on the rise to reach 644 kg after two years of decline. Over the period under review, imports, however, saw a pronounced decline.
In value terms, imports of cocoa; paste, wholly or partly defatted totaled $1.5K in 2022. In general, imports, however, recorded a perceptible decrease.
| Import of Cocoa; Paste, Wholly or Partly Defatted in Ghana (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | N/A | N/A | N/A | 1,103 | 0% |
| United States | 556 | 878 | 8.0 | 295 | -19.0% |
| Cote d'Ivoire | 610 | 658 | 4.0 | 103 | -44.7% |
| Spain | N/A | N/A | 1,453 | N/A | 0% |
| Togo | 444 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1,610 | 1,536 | 1,465 | 1,501 | -2.3% |
Top Suppliers of Cocoa; Paste, Wholly or Partly Defatted to Ghana in 2022:
- South Africa (535.0 kg)
- United States (70.0 kg)
- Cote d'Ivoire (39.0 kg)
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