Peru’s Cocoa Exports Show Price-Driven Adjustment in Early 2026
Commodities Network (Bogota)— Peru’s cocoa bean exports totaled 16,818 tonnes in January-April 2026, down from 19,144 tonnes year on year, according to the Peruvian Coffee and Cocoa Chamber, using figures from import-export data Veritrade.
Total exports were worth $73.60 million FOB, down sharply from $190.49 million in the same period last year.
These results reflect solid performance at the beginning of the year, especially in terms of volume, while maintaining valuation levels higher than those observed before the strong international bullish cycle that began in 2024.
From a historical perspective, the performance in 2026 shows a volume close to that recorded in 2025 (19,143.88 tons) and 2024 (20,786.40 tons), although still below those years. However, it remains above the levels observed in several pre-pandemic periods and consolidates a structural recovery of Peruvian cocoa exports within the international market, the chamber noted.
The average price reached $4,376/t, down sharply from $9,950, reported in the same period a year earlier, the chamber noted.
Price trends weigh on export valuese.
In 2025, the sector reached an exceptional peak, with average prices climbing to $10,165/t. By contrast, in 2026, prices adjusted to $4,826/t—remaining above pre-2024 levels but well below the previous year’s peak.
This trend underscores that prices remain the primary driver of export value in the short term, directly shaping the sector’s ability to maximize revenues even when volumes remain competitive, using Veritrade data.
Between 2020 (US$2,890.34/ton), 2021 (US$2,743.01/ton), and 2023 (US$2,533.97/ton), Peruvian cocoa was traded within relatively stable ranges and at considerably lower levels than current prices. Starting in 2024, the international market entered a phase of strong appreciation, pushing the average price up to US$5,388.81 per ton.
For 2026, the average price shows a correction compared to the extraordinary highs reached in 2024 and especially in 2025; nevertheless, it remains clearly above historical levels. This confirms that the international price continues to be the main variable determining the FOB value of Peruvian cocoa, even in scenarios where export volume remains relatively stable.
Key export destinations
During the January–April 2026 period, Peruvian cocoa bean exports remained highly concentrated in strategic markets. The main destination was the Netherlands, with 5,405.37 tons, equivalent to 32.14% of total exports, generating an FOB value of USD 22.21 million and recording an average price of USD 4,109.26 per ton. The United States ranked second, with 3,603.80 tons (21.43%), reaching an FOB value of USD 15.83 million and an average price of USD 4,392.11 per ton.
The third-largest market was Italy, with 2,659.42 tons (15.81%) and an FOB value of USD 11.61 million, with an average price of USD 4,366.68 per ton. Belgium ranked fourth, with 1,585.22 tons (9.43%) and an FOB value of USD 8.04 million, also standing out for its higher average price of USD 5,073.30 per ton, reflecting greater relative valuation in this destination. Finally, Malaysia registered 979.81 tons (5.83%) with an FOB value of USD 4.03 million and an average price of USD 4,109.52 per ton.
Together, these five destinations accounted for approximately 84.64% of total export volume, confirming a commercial structure highly focused on consolidated markets. In terms of valuation, Belgium positioned itself as the destination with the highest unit price within the main group, while the Netherlands and Malaysia remained within similar valuation ranges, reflecting a dynamic in which the highest-volume markets continue to play a decisive role in absorbing Peruvian cocoa exports.
Value-added cocoa products gain relevance
In addition to cocoa beans, Peruvian foreign trade includes a range of derivative products that complement the export supply and provide added value. During the January–April 2026 period, exports of cocoa-related products reached a total volume of (data in kg registered in the export table) and a corresponding cumulative FOB value according to the derivatives sheet in the Excel file, reflecting dynamic activity in categories related to industrial processing.
Among this group, products such as cocoa butter and cocoa powder stand out, traditionally accounting for a significant share of export value, followed by products such as cake, chocolate, nibs, and husk, which diversify the export basket with different levels of value per kilogram.
On the import side, the sector also records significant activity in processed products such as chocolate and cocoa powder and highlighting an active domestic market
By Diana Delgado
Source: Coffee and Cocoa Chamber
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