HS Code:
The category under Harmonized System (HS) subheadings 1806.20.28, 1806.20.38, 1806.32.08, and 1806.32.18 pertains to chocolate and other food preparations containing cocoa. Specifically, these subheadings cover chocolate in blocks, slabs, or bars (filled or not filled) and other preparations in containers or immediate packings of a content not exceeding 2 kg. These products are widely consumed globally as confectionery items, used in both retail and industrial applications (e.g., baking and food processing). The trade of these products is influenced by consumer demand, seasonal trends (e.g., holidays like Christmas and Easter), and raw material availability, particularly cocoa beans.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$4.5 billion USD
18% of total trade of total trade
Increasing
$3.2 billion USD
13% of total trade of total trade
Stable
$2.8 billion USD
11% of total trade of total trade
Increasing
$2.1 billion USD
8% of total trade of total trade
Stable
$1.9 billion USD
7.5% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
30% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Switzerland or USMCA)
Rising demand for premium and organic chocolate
Increased exports from countries like Switzerland and Belgium, which specialize in high-quality chocolate; higher price points benefiting exporters
2021-2022
Growth in plant-based and vegan chocolate products
Expanding market opportunities in North America and Europe, with new product lines driving trade volume
2022
Fluctuations in cocoa bean prices due to climate change
Higher production costs in West African cocoa-producing countries affecting global supply chains and pricing
2020-2022
The European Union introduced regulations requiring proof that cocoa products are not linked to deforestation, affecting exporters from West Africa and Latin America.
June 2023
Increased compliance costs for exporters; potential delays in shipments to EU markets
The United States adjusted tariffs on certain EU chocolate imports as part of ongoing trade negotiations, reducing rates temporarily to boost trade relations.
March 2023
Positive for EU exporters like Belgium and Germany, with a projected 5% increase in export volume to the US
Leading companies in Switzerland and Belgium have committed to 100% sustainable cocoa sourcing by 2025, influencing trade patterns and supplier relationships.
January 2023
Higher demand for certified cocoa from producing countries, potentially increasing costs but improving market access