Price for Cocoa; Paste, Not Defatted in Portugal - 2023

Contents:

1. Price for Cocoa; Paste, Not Defatted in Portugal (CIF) - 2023
2. Price for Cocoa; Paste, Not Defatted in Portugal (FOB) - 2022
3. Imports of Cocoa; Paste, Not Defatted in Portugal
4. Exports of Cocoa; Paste, Not Defatted in Portugal

Price for Cocoa; Paste, Not Defatted in Portugal (CIF) - 2023

The average cocoa; paste, not defatted import price stood at $4,147 per ton in June 2023, growing by 5.3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.3%. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 14% against the previous month. As a result, import price attained the peak level of $4,340 per ton. From April 2023 to June 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Italy ($12,851 per ton), while the price for Ghana ($3,638 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Italy (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cocoa; Paste, Not Defatted in Portugal (FOB) - 2022

In 2022, the average cocoa; paste, not defatted export price amounted to $3,008 per ton, reducing by -49.3% against the previous year. In general, the export price, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2021 an increase of 69% against the previous year. As a result, the export price reached the peak level of $5,932 per ton, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($3,647 per ton), while the average price for exports to Cabo Verde ($1,893 per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+31.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa; Paste, Not Defatted in Portugal

Cocoa; paste, not defatted imports into Portugal soared to 3K tons in 2022, with an increase of 101% against 2021. Overall, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cocoa; paste, not defatted imports soared to $10M in 2022. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cocoa; Paste, Not Defatted to Portugal in 2022:

1. Cote d'Ivoire (1764.0 tons)
2. Ghana (980.0 tons)
3. Spain (164.4 tons)

Exports of Cocoa; Paste, Not Defatted in Portugal

In 2022, the amount of cocoa; paste, not defatteds exported from Portugal amounted to 992 kg, growing by 7.6% against 2021. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 197% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, cocoa; paste, not defatted exports declined notably to $3K in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 402%. As a result, the exports reached the peak of $5.5K, and then dropped rapidly in the following year.

Top Export Markets for Cocoa; Paste, Not Defatted from Portugal in 2022:

1. Greece (609.0 kg)
2. Spain (254.0 kg)
3. Guinea (70.0 kg)
4. Cabo Verde (27.0 kg)
5. Luxembourg (20.0 kg)

Source: IndexBox Market Intelligence Platform