Price for Cocoa; Paste; Whether or Not Defatted in Nigeria - 2022
Contents:
- Price for Cocoa; Paste; Whether or Not Defatted in Nigeria (FOB) - 2022
- Price for Cocoa; Paste; Whether or Not Defatted in Nigeria (CIF) - 2022
- Exports of Cocoa; Paste; Whether or Not Defatted in Nigeria
- Imports of Cocoa; Paste; Whether or Not Defatted in Nigeria
Price for Cocoa; Paste; Whether or Not Defatted in Nigeria (FOB) - 2022
The average export price for cocoa; paste; whether or not defatteds stood at $2,378 per ton in June 2022, declining by -36.8% against the previous month. Over the period under review, export price indicated mild growth from June 2021 to June 2022: its price increased at an average monthly rate of +1.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2022 figures, export price for cocoa; paste; whether or not defatteds decreased by -36.8% against May 2022 indices. The pace of growth was the most pronounced in September 2021 an increase of 115% m-o-m. Over the period under review, the average export prices reached the peak figure at $3,765 per ton in May 2022, and then fell markedly in the following month.
Average prices varied somewhat for the major external markets. In June 2022, the country with the highest price was Spain ($2,750 per ton), while the average price for exports to Germany totaled $2,102 per ton.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cocoa; Paste; Whether or Not Defatted in Nigeria (CIF) - 2022
The average import price for cocoa; paste; whether or not defatteds stood at $3,164 per ton in 2022, with an increase of 13% against the previous year. In general, the import price, however, showed a pronounced slump. The growth pace was the most rapid in 2016 an increase of 75%. The import price peaked at $4,629 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($4,371 per ton), while the price for the United Arab Emirates amounted to $3,133 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+25.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Cocoa; Paste; Whether or Not Defatted in Nigeria
In 2022, approx. 7.5K tons of cocoa; paste; whether or not defatteds were exported from Nigeria; picking up by 13% on the previous year's figure. The total export volume increased at an average annual rate of +6.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cocoa; paste; whether or not defatteds surged to $21M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.0% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 30%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Cocoa; Paste; Whether or Not Defatted in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.3 | 0.3 | 0.5 | 8.0 | 198.8% |
| Spain | 1.0 | 1.2 | 2.0 | 3.7 | 54.7% |
| Netherlands | 4.1 | 5.5 | 7.1 | 2.7 | -13.0% |
| United States | N/A | 1.2 | 1.5 | 2.5 | 44.3% |
| United Kingdom | 1.3 | 1.5 | 1.4 | 1.7 | 9.4% |
| Algeria | N/A | 0.6 | 0.2 | 0.7 | 8.0% |
| Estonia | 0.9 | 0.6 | 0.5 | 0.6 | -12.6% |
| Switzerland | N/A | 0.1 | 0.1 | 0.5 | 123.6% |
| Malaysia | 0.2 | 0.3 | 0.5 | 0.1 | -20.6% |
| Russia | 2.7 | 1.3 | 0.5 | N/A | -57.0% |
| Mexico | 0.1 | 0.2 | 0.2 | N/A | 41.4% |
| Brazil | 0.4 | 0.5 | 0.5 | N/A | 11.8% |
| Others | 0.9 | 2.1 | 1.6 | 0.6 | -12.6% |
| Total | 11.9 | 15.5 | 16.6 | 21.1 | 21.0% |
Top Export Markets for Cocoa; Paste; Whether or Not Defatted from Nigeria in 2022:
- Germany (2580.0 tons)
- Spain (1511.8 tons)
- Netherlands (995.0 tons)
- United States (885.2 tons)
- United Kingdom (520.0 tons)
- Algeria (264.0 tons)
- Switzerland (247.5 tons)
- Estonia (210.9 tons)
- Malaysia (75.0 tons)
Imports of Cocoa; Paste; Whether or Not Defatted in Nigeria
In 2022, approx. 25 tons of cocoa; paste; whether or not defatteds were imported into Nigeria; growing by 31% against the previous year's figure. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 75% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of cocoa; paste; whether or not defatteds skyrocketed to $80K in 2022. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 91% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in years to come.
| Import of Cocoa; Paste; Whether or Not Defatted in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | N/A | 24.8 | 13.7 | 77.7 | 77.0% |
| India | 16.8 | 3.8 | 39.3 | 2.7 | -45.6% |
| Others | 1.0 | N/A | 1.6 | N/A | 26.5% |
| Total | 17.8 | 28.6 | 54.5 | 80.4 | 65.3% |
Top Suppliers of Cocoa; Paste; Whether or Not Defatted to Nigeria in 2022:
- United Arab Emirates (24.8 tons)
- India (0.6 tons)
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In value terms, cocoa paste imports totaled $X in 2016. Overall, it indicated a strong expansion from 2007 to 2016: the total imports value increased at an average annual rate of +X% over the las...
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