Peru: Cocoa Bean Market 2024

Cocoa Bean Market Size in Peru

In 2022, the Peruvian cocoa bean market decreased by X% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption, however, recorded a remarkable increase. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Peru

In value terms, cocoa bean production rose to $X in 2022 estimated in export price. Overall, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of cocoa beans in Peru amounted to X kg per ha in 2022, surging by X% against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. The cocoa bean yield peaked at X kg per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cocoa bean harvested area in Peru shrank to X ha in 2022, which is down by X% on 2021. Overall, the total harvested area indicated a prominent expansion from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa bean harvested area increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to cocoa bean production reached the maximum at X ha in 2021, and then fell in the following year.

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Cocoa Bean Exports

Exports from Peru

In 2022, overseas shipments of cocoa beans increased by X% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, cocoa bean exports reached $X in 2022. Overall, exports posted a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), Indonesia (X tons) and Mexico (X tons) were the main destinations of cocoa bean exports from Peru, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Indonesia ($X) and Mexico ($X) were the largest markets for cocoa bean exported from Peru worldwide, together accounting for X% of total exports.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Peru

In 2022, overseas purchases of cocoa beans increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed significant growth. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cocoa bean imports soared to $X in 2022. In general, imports posted significant growth. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Venezuela (X tons) was the main supplier of cocoa bean to Peru, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Venezuela stood at X%.

In value terms, Venezuela ($X) constituted the largest supplier of cocoa beans to Peru.

From 2012 to 2022, the average annual growth rate of value from Venezuela stood at X%.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then declined markedly in the following year.

As there is only one major supplying country, the average price level is determined by prices for Venezuela.

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to X% per year.

Source: IndexBox Platform

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