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

Price for Cocoa; Paste, Not Defatted in Argentina (CIF) - 2022

In 2022, the average cocoa; paste, not defatted import price amounted to $3,739 per ton, falling by -5.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 23% against the previous year. As a result, import price attained the peak level of $4,685 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($4,873 per ton), while the price for Ecuador ($3,083 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-0.7%), while the prices for the other major suppliers experienced a decline.

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

The average cocoa; paste, not defatted export price stood at $2,657 per ton in 2020, standing approx. at the previous year. Overall, the export price, however, recorded a perceptible setback. Over the period under review, the average export prices attained the maximum at $3,886 per ton in 2012; however, from 2013 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for France.

From 2012 to 2020, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.

Imports of Cocoa; Paste, Not Defatted in Argentina

In 2022, the amount of cocoa; paste, not defatteds imported into Argentina soared to 12K tons, growing by 23% compared with the year before. In general, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 31%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cocoa; paste, not defatted imports skyrocketed to $44M in 2022. Overall, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Import of Cocoa; Paste, Not Defatted in Argentina (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	16.8	18.2	20.6	21.2	8.1%
Ecuador	3.9	6.8	8.6	8.9	31.7%
Italy	1.4	1.0	1.7	5.6	58.7%
Mexico	1.0	0.7	1.5	1.5	14.5%
Colombia	1.3	0.6	0.8	0.9	-11.5%
Ghana	0.6	0.5	0.4	0.5	-5.9%
Others	0.1	0.2	4.8	5.7	284.9%
Total	25.2	28.0	38.3	44.4	20.8%

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

Brazil (6.4K tons)
Ecuador (2.9K tons)
Italy (1.1K tons)
Mexico (0.5K tons)
Colombia (0.3K tons)
Ghana (0.2K tons)

Exports of Cocoa; Paste, Not Defatted in Argentina

In 2020, exports of cocoa; paste, not defatteds from Argentina reduced dramatically to 3.9 tons, declining by -29.2% on the previous year. Over the period under review, exports continue to indicate a precipitous shrinkage.

In value terms, cocoa; paste, not defatted exports dropped rapidly to $10K in 2020. In general, exports continue to indicate a dramatic decline.