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Contractor
Peru Cocoa Revenue Falls 59% as Global Prices Normalize After Record Highs
Commodities Network (Bogota)— Peru’s raw cocoa bean exports experienced a sharp revenue contraction, primarily driven by a normalization in global commodity prices following unprecedented highs in 2024 and 2025. According to data from the Peruvian Coffee and Cocoa Chamber (based on Veritrade records), export revenues fell far faster than physical shipment volumes, while processed cocoa derivatives continued to bolster the sector's total trade value.
During the first eight months of 2026, Peru exported 58,893.92 metric tonnes (t) of raw cocoa beans, generating $265.44 million in FOB revenue. Compared to the same period in 2025, export volumes dropped by 19.0% down from 72,707 tonnes. However, export value fell sharply by 58.7% down from $642.52million as the average price per tonne plunged 49.0% from $8,837.11 to $4,507.14.
From a historical perspective, physical export volumes in 2026 remain healthy—surpassing early-decade levels (2020–2023 average shipments ranged between 30,388t and 43,724t). Similarly, average prices ($4,507.14/t) remain elevated compared to the 2020–2023 baseline ($2,455.10–$2,785.63/t), even if well below the historic spikes seen over the previous two years.
Top Destination Markets
Five consolidated markets absorbed roughly 74.7% of Peru's raw cocoa export volume:
Pricing Variations Across Destinations
Among major buyers, the United States paid the highest average price ($4,641.42/t), followed closely by Belgium ($4,628.11/t), Italy ($4,441.28/t), the Netherlands ($4,428.82/t), and Malaysia ($4,404.28/t). Smaller niche markets yielded significantly higher unit values; Japan, for instance, paid an average of $8,423.22/t on a smaller volume of 465.43t.
Processed Cocoa Derivatives Drive Value Addition
Peru's export basket showed strong participation from processed cocoa derivatives, totaling 31.12mn kilograms (kg) valued at $230.33mn FOB (averaging $7.40/kg). Core industrial inputs made up 81.0% of all processed export revenue:
Further value-added goods rounded out export offerings, including finished chocolate (2.95mn kg worth $24.32mn), cocoa nibs (1.60mn kg worth $16.80mn), and cocoa husk (4.11mn kg worth $2.61mn).
Import Trends
Peru imported 8.94mn kg of cocoa-related products worth $71.38mn CIF (averaging $7.99/kg). Finished consumer products dominated imports, with chocolate accounting for 66.6% of total import value (5.99mn kg worth $47.56mn), followed by cocoa powder (2.04mn kg worth $13.62mn), cocoa butter (458,740 kg worth $6.00mn), and cocoa cake (449,060 kg worth $4.20mn).
By Diana Delgado
Source: Peruvian Coffee and Cocoa Chamber
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