What is the price of cocoa beans per kilogram/pound in Uganda today?
The retail price range for Uganda cocoa beans is between US$ 2.08 and US$ 4.08 per kilogram or between US$ 0.94 and US$ 1.85 per pound(lb). Click here to see today's exact prices of cocoa beans in Uganda
The retail price range in Uganda Shilling for cocoa beans is between UGX 8,000.31 and UGX 15,704.31 per kilogram or between UGX 3,628.26 and UGX 7,122.14 per pound(lb) in Kampala and Jinja.
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In 2024, the approximate wholesale price range for Uganda cocoa beans is between US$ 1.46 and US$ 2.86 per kilogram or between US$ 0.66 and US$ 1.30 per pound(lb).
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Uganda Cocoa Beans Export Prices - Historical, Trends and Prediction
The export price per kilogram of Cocoa Beans from Uganda has seen slight fluctuations over the last five years. In 2018, the price was 2.1 US$ per kg, followed by 2.27 US$ per kg in 2019. The price then gained to US$2.4 in 2020 before dipping to US$2.38 in 2021. The 2022 price was US$2.34 per kg. Based on this trend, it is likely that the export price of Cocoa Beans from Uganda will continue to show mixed results in the coming years. Predicted prices for 2023 and 2024 are 2.45 US $ per kg and 2.52 US $ per kg respectively.
The exports of cocoa beans from Uganda are classified as:
- Cocoa beans, whole or broken, raw or roasted (HS code 180100)
Uganda Cocoa Beans Import Prices - Historical, Trends and Prediction
The import price per kilogram of Cocoa Beans into Uganda over the last five years has been relatively stable. In 2017, the price was $1.97, followed by $2.10 in 2018, $2.27 in 2019, $2.40 in 2020, and $2.38 in 2021. This indicates that the price has been fluctuating between $2.00 and $2.50 over the last five years. Based on this trend, it is likely that the price of Cocoa Beans in Uganda will remain between $2.00 and $2.50 in the next two years, with an estimated price of $2.44 in 2023 and $2.46 in 2024.Export values for Uganda cocoa beans
The total values in export for cocoa beans in Uganda were US$ 74,996, US$ 54,208, US$ 64,695 and US$ 77,548 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Uganda: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of cocoa beans in other countries across Africa: Algeria cocoa beans, Angola cocoa beans, Botswana cocoa beans, Burundi cocoa beans, Cameroon cocoa beans, Cape Verde cocoa beans, Central African Republic cocoa beans, Comoros cocoa beans, DRC Congo cocoa beans & Benin cocoa beans.
Uganda cocoa beans - Production, Exports, Imports, Seasons and HS Codes
In 2019 Uganda shipped 34,174 tonnes of cocoa beans. Through 2019 alone, the interest in Uganda cocoa beans (processed category) has gone up, recording a change of 11.063 per cent compared to the year 2018. Between 2017 and 2019, cocoa beans' exports grew by 24.14 percent netting the nation US$77.55m for the year 2019. Uganda's cocoa beans exports are classified as:
- Cocoa beans, whole or broken, raw or roasted (HS code 180100)
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Uganda cocoa beans export values
In 2019, Uganda supplied cocoa beans with a value of 77.55m USD, an increment of 19.87% from 2018's total cocoa beans export of 64.695m USD. The yearly increase in value of Uganda cocoa beans between 2017 to 2018 was 19.346%.
The annual variation in the amount of Uganda's cocoa beans exports between 2017 and 2019 was 24.14 percent when compared to a variation of 11.063% in the growth rate between 2018 and 2019.
Export markets for Uganda cocoa beans ( in '000$ )
Uganda's leading destinations for cocoa beans are Malaysia, India, Singapore, Belgium and the Netherlands.
Uganda purchased 1,725 tonnes of cocoa beans in 2019.
Production
The production of cocoa beans in Uganda was 35,000 tonnes in 2019 and is predicted to change by an average of 0%. The country had approximately 72,369.00 hectares under cocoa beans cultivation.
Farm Gate and Retail Prices of Raw Dried Cocoa Beans in Uganda
According to the National Agricultural Advisory Services (NAADS), farm gate prices of raw dried cocoa beans from Uganda start at 7,628 shillings or $2 a kg. With this in mind, retailers can expect an industry benchmark profit of 8% on that price, meaning a minimum retail price of 9,916.4 shillings ($2.16) per kg. In January 2024, farmers in Bundibugyo began enjoying farm gate prices of between 8000 shillings ($2.09) and 15,000 shillings ($3.93) per kg. Adding 8% as retailer markup, this amounts to a retail price of $4.24 a kg.
It is worth noting that Uganda’s farmers can choose to sell their beans in two forms, depending on whether they intend to dry it or not. The first option is to sell raw dried cocoa beans at a standard price. The standard farm gate price for dried beans in 2023 was 7,800 shillings ($2.04) per kg. The other alternative is selling the cacao produce in wet form to traders at giveaway prices of around 3000 shillings ($0.81) a kg. This poor price owes to the fact that drying wet beans is time-intensive and eats into traders' margins.
Thanks to its strategic location in the equatorial climatic zone, Uganda is a robust cocoa producer. In 2017, the country ranked 14th globally in output, with 20,000 tonnes of dried cocoa beans.
The cocoa sector in Uganda traces its roots to the colonial period when British settlers grew the first trees here in 1901. It was not until 1917 that commercial exports began but due to price volatility, the sector was all but given up by 1924. The next reintroduction period was in 1958, including in the western district of Bundibugyo. By 2023, Bundibugyo was accounting for 70% of Uganda’s cocoa exports.
Liberal farming policies of the 1990s endeared farmers back to the crop. Since then, it has become a major revenue earner, with most exports bound for the United States and Europe.