Price for Cocoa; Shells, Husks, Skins and Other Cocoa Waste in the Philippines - 2023

Contents:

1. Price for Cocoa; Shells, Husks, Skins and Other Cocoa Waste in the Philippines (CIF) - 2022
2. Imports of Cocoa; Shells, Husks, Skins and Other Cocoa Waste in the Philippines

Price for Cocoa; Shells, Husks, Skins and Other Cocoa Waste in the Philippines (CIF) - 2022

The average import price for cocoa; shells, husks, skins and other cocoa wastes stood at $257 per ton in 2022, dropping by -22.8% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% 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; shells, husks, skins and other cocoa wastes increased by +53.5% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of 41%. As a result, import price reached the peak level of $333 per ton, and then fell notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($355 per ton), while the price for Indonesia ($219 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Cocoa; Shells, Husks, Skins and Other Cocoa Waste in the Philippines

In 2022, the amount of cocoa; shells, husks, skins and other cocoa wastes imported into the Philippines soared to 1.6K tons, increasing by 21% compared with the previous year's figure. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 71%. As a result, imports attained the peak of 1.8K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cocoa; shells, husks, skins and other cocoa wastes reduced to $410K in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +17.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 72% against the previous year.

Top Suppliers of Cocoa; Shells, Husks, Skins and Other Cocoa Waste to the Philippines in 2022:

1. Indonesia (1092.2 tons)
2. Malaysia (441.1 tons)
3. Singapore (63.0 tons)

Source: IndexBox Market Intelligence Platform