Peru’s Cocoa Exports Show Price-Driven Adjustment, Shipments in Jan-June
Commodities Network (Bogota)— Peru’s cocoa bean exports totaled 37,867 tonnes in the first half of the year, up 0.76% on the year when it had shipped 37,581 tonnes, the coffee and cocoa chamber said.
“The exported volume represents the highest on record for the January–June period, slightly surpassing the 37,581.19 tons recorded in 2025 and consolidating a trend of sustained growth for Peru's exportable supply,” the chamber said.
Furthermore, Peruvian cocoa sector maintained a solid performance in foreign trade, reaching a FOB value of US$ 157.58 million and an average price of US$ 4,161.51 per ton, the chamber said citing figures from Veritrade, a business intelligence and market research platform that aggregates and analyzes official foreign trade data from customs databases around the world.
Although the international market continues to adjust following the extraordinary behavior recorded in 2025, valuation levels remain considerably higher than those observed between 2020 and 2023.
Market performance during the first half reflects a phase of greater stability following the high volatility seen in previous campaigns. While the average price reached a historic high of US$ 9,623.51 per ton in 2025, this indicator settled at US$ 4,161.51 per ton in 2026, showing a correction from the exceptional levels of the previous year. Nevertheless, the price remains substantially higher than that recorded between 2020 and 2023—when it ranged between US$ 2,528 and US$ 2,806 per ton—confirming that the international market maintains a favorable valuation scenario for Peruvian cocoa despite the normalization of global supply.
Price trends weigh on export value
Price behavior shows even more clearly the changes experienced by the sector in recent years. Between 2020 (US$ 2,851.65/Ton), 2021 (US$ 2,729.85/Ton), 2022 (US$ 2,564.55/Ton), and 2023 (US$ 2,563.66/Ton), Peruvian cocoa was traded within relatively stable ranges that were significantly lower than those observed in more recent years.
Starting in 2024, the international market entered a period of sharp appreciation, driving the average price up to US$ 6,041.22 per ton, while in 2025 it reached an all-time high of US$ 9,747.19 per ton. This boosted the accumulated FOB value to US$ 262.93 million, despite recording a similar volume to that of 2024.
Key export destinations
During the January–June 2026 period, Peruvian cocoa bean exports maintained a strong concentration in strategic markets, primarily in Europe, North America, and Asia.
The main destination was the Netherlands, with 11,422.64 tons, equivalent to 30.17% of the exported volume, generating a FOB value of US$ 48.19 million. It is followed by the United States, with 6,128.94 tons (16.19%) and a FOB value of US$ 25.78 million; Malaysia, which rises to third place with 4,332.91 tons (11.44%) and US$ 16.49 million FOB.
Italy was next with 3,881.80 tons (10.25%) and US$ 16.53 million; and Belgium, with 3,436.08 tons (9.07%) and US$ 15.35 million. Together, these five markets accounted for nearly 77% of the total exported volume, confirming the strong orientation of Peruvian cocoa toward Europe, North America, and Southeast Asia.
In terms of valuation, Belgium recorded the highest average price among the top five destinations, at US$ 4,467.96 per ton, followed by Italy (US$ 4,258.89/ton), the Netherlands (US$ 4,218.96/ton), and the United States (US$ 4,206.95/ton). For its part, Malaysia presented an average price of US$ 3,805.27 per ton, although it continues to consolidate itself as one of the fastest-growing markets within the Peruvian export structure. Among the destinations with smaller market shares, Japan once again stood out by recording an average price of US$ 9,176.21 per ton, reflecting opportunities for placing Peruvian cocoa in specialized, higher-value segments.
Value-added cocoa products gain relevance
The cocoa industrialization process continues to gain importance within the national export chain. During January–June 2026, exports of derivative products reached 23.98 million kilograms, generating a FOB value of US$ 183.84 million, a figure that far exceeds the value obtained from cocoa bean exports during the same period. Cocoa butter consolidated its position as the main export product, with 9.54 million kg and US$ 79.31 million FOB, representing approximately 43% of the total exported value of derivatives. It was followed by cocoa powder, with US$ 41.81 million, and cocoa cake, with US$ 28.23 million—products that, together with cocoa butter, accounted for roughly 81% of the exported value in this category. Likewise, chocolate exports reached US$ 20.80 million, while cocoa nibs generated US$ 11.77 million, confirming the growing share of products with higher levels of processing and added value within Peru’s export supply.
At the same time, the trade of derivatives continues to reflect an increasingly integrated value chain, where the national industry combines the export of processed products with the supply of inputs and finished goods to meet domestic demand. Overall, the results for the first half of 2026 showcase a sector that maintains high levels of international competitiveness, backed by a record volume of cocoa bean exports, a consolidated trade structure in strategic markets, and a growing participation of industrialized products that strengthen added-value generation and the diversification of Peruvian exports.
In other news, Keiko Fujimori was sworn in as the first elected female president of Peru today in a country with a projected growing cococa production.
Fujiromi secured the Presidency in a tight June runoff election
By Diana Delgado
Source: VERITRADE Database, Peruvian Coffee and Cocoa Chamber Coffee and Cocoa Chamber
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