Price for Cocoa; Paste; Whether or Not Defatted in South Korea - 2022
Contents:
- Price for Cocoa; Paste; Whether or Not Defatted in South Korea (CIF) - 2022
- Price for Cocoa; Paste; Whether or Not Defatted in South Korea (FOB) - 2022
- Imports of Cocoa; Paste; Whether or Not Defatted in South Korea
- Exports of Cocoa; Paste; Whether or Not Defatted in South Korea
Price for Cocoa; Paste; Whether or Not Defatted in South Korea (CIF) - 2022
In December 2022, the average import price for cocoa; paste; whether or not defatteds amounted to $4,498 per ton, increasing by 3.7% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 an increase of 5.3% against the previous month. The import price peaked at $4,659 per ton in July 2022; however, from August 2022 to December 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the countries with the highest prices were Colombia ($5,050 per ton) and the Netherlands ($5,038 per ton), while the price for Ghana ($3,742 per ton) and Cote d'Ivoire ($3,972 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cocoa; Paste; Whether or Not Defatted in South Korea (FOB) - 2022
In 2022, the average export price for cocoa; paste; whether or not defatteds amounted to $6,194 per ton, with an increase of 10% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the maximum at $6,293 per ton in 2015; however, from 2016 to 2022, 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 Vietnam.
From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +1.9% per year.
Imports of Cocoa; Paste; Whether or Not Defatted in South Korea
In 2022, supplies from abroad of cocoa; paste; whether or not defatteds was finally on the rise to reach 4.9K tons after two years of decline. The total import volume increased at an average annual rate of +3.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of cocoa; paste; whether or not defatteds surged to $22M in 2022. The total import value increased at an average annual rate of +6.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cocoa; Paste; Whether or Not Defatted in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 6.5 | 8.2 | 8.2 | 9.1 | 11.9% |
| Netherlands | 4.0 | 4.3 | 4.7 | 6.3 | 16.3% |
| Spain | 2.6 | 1.8 | 1.9 | 2.2 | -5.4% |
| Ghana | 2.8 | 1.8 | 1.3 | 1.9 | -12.1% |
| Germany | 0.6 | 0.6 | 0.6 | 0.7 | 5.3% |
| Singapore | 0.4 | 0.7 | 0.6 | 0.5 | 7.7% |
| Cote d'Ivoire | 0.2 | 0.8 | 0.8 | 0.4 | 26.0% |
| Indonesia | 0.4 | 0.5 | 0.3 | 0.3 | -9.1% |
| Others | 0.6 | 0.5 | 0.4 | 0.5 | -5.9% |
| Total | 18.1 | 19.0 | 18.8 | 22.0 | 6.7% |
Top Suppliers of Cocoa; Paste; Whether or Not Defatted to South Korea in 2022:
- Malaysia (2092.4 tons)
- Netherlands (1261.3 tons)
- Ghana (509.2 tons)
- Spain (473.8 tons)
- Germany (154.9 tons)
- Singapore (130.6 tons)
- Cote d'Ivoire (100.0 tons)
- Indonesia (80.0 tons)
Exports of Cocoa; Paste; Whether or Not Defatted in South Korea
Exports of cocoa; paste; whether or not defatteds from South Korea fell sharply to 49 tons in 2022, with a decrease of -18.3% against 2021. Overall, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. As a result, the exports reached the peak of 60 tons, and then dropped significantly in the following year.
In value terms, exports of cocoa; paste; whether or not defatteds contracted to $303K in 2022. The total export value increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 14%. As a result, the exports reached the peak of $336K, and then contracted in the following year.
| Export of Cocoa; Paste; Whether or Not Defatted in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 160 | 254 | 250 | 303 | 23.7% |
| Japan | N/A | N/A | 85.7 | N/A | 0% |
| China | 79.9 | 40.2 | N/A | N/A | -49.7% |
| Malaysia | 26.8 | N/A | N/A | N/A | 0% |
| Indonesia | 11.2 | N/A | N/A | N/A | 0% |
| Others | 1.3 | N/A | 0.4 | N/A | -44.5% |
| Total | 279 | 294 | 336 | 303 | 2.8% |
Top Export Markets for Cocoa; Paste; Whether or Not Defatted from South Korea in 2022:
- Vietnam (49.0 tons)
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