HS Code:
The category under HS Code subheadings 1806.20.36 and 1806.32.16 pertains to chocolate and other food preparations containing cocoa. Specifically, 1806.20.36 includes chocolate preparations in blocks, slabs, or bars weighing more than 2 kg or in liquid, paste, powder, granular, or other bulk form in containers or immediate packings, of a content exceeding 2 kg, with added sugar. Subheading 1806.32.16 covers chocolate in blocks, slabs, or bars, not filled, weighing 2 kg or less, with added sugar. These products are significant in the global confectionery market, often used in retail and industrial applications.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 600 million
24% of total trade of total trade
Increasing
USD 450 million
18% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 250 million
10% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for premium and organic chocolate
Increased exports from countries with sustainable cocoa farming practices, driving higher value per unit
2021-2022
Growth in plant-based and vegan chocolate alternatives
Expansion of market segments in Europe and North America, with new product lines affecting trade volumes
2020-2022
Supply chain disruptions due to climate change
Reduced cocoa yields in West Africa impacting bulk chocolate supply, leading to price volatility
2019-2022
New EU regulations require proof that cocoa used in chocolate products is not linked to deforestation, affecting exporters from West Africa and Latin America.
June 2023
Potential delays and increased costs for exporters not compliant with traceability requirements.
The US extended tariff waivers on certain chocolate imports from the EU as part of trade negotiations, boosting imports from Belgium and Germany.
March 2023
Increased market access for European exporters, potentially raising competition in the US market.
Global cocoa prices hit a 10-year high due to poor harvests in Côte d'Ivoire and Ghana, major cocoa suppliers.
September 2023
Higher production costs for chocolate manufacturers, likely to increase retail prices and affect trade volumes.