Key Takeaways
- • Peru's raw cocoa bean export value fell 58.7% to $265.44 million in the first eight months of 2026, from $642.52 million in the same period of 2025, according to data from the Peruvian Coffee and Cocoa Chamber based on Veritrade records.
- • The average export price per tonne dropped 49.0% to $4,507.14, from $8,837.11, as global commodity prices normalized after record highs in 2024 and 2025.
- • Raw cocoa export volumes fell only 19.0% to 58,893.92 tonnes, from 72,707 tonnes, and remain above the 2020-2023 average range of 30,388 to 43,724 tonnes.
- • Processed cocoa derivatives totaled 31.12 million kg valued at $230.33 million FOB, with cocoa butter ($98.55 million) and cocoa powder ($56.64 million) accounting for most of the value.
- • The Netherlands, United States, Malaysia, Belgium and Italy absorbed roughly 74.7% of Peru's raw cocoa export volume.
Summary
Peru's raw cocoa bean exports contracted sharply in 2026, with export revenues falling far faster than physical shipment volumes, according to a commodities report by StoneX drawing on data from the Peruvian Coffee and Cocoa Chamber. The decline was driven primarily by a normalization in global commodity prices following unprecedented highs in 2024 and 2025.
During the first eight months of 2026, Peru exported 58,893.92 metric tonnes of raw cocoa beans, generating $265.44 million in FOB revenue. Export volumes dropped 19.0% year on year, while export value fell 58.7% from $642.52 million. The average price per tonne plunged 49.0%, from $8,837.11 to $4,507.14. Against a historical baseline, 2026 physical volumes remain healthy, exceeding the 2020-2023 average range of 30,388 to 43,724 tonnes, and average prices remain elevated relative to the 2020-2023 range of $2,455.10 to $2,785.63 per tonne.
Five markets absorbed roughly 74.7% of raw cocoa export volume. The Netherlands took 15,375.81 tonnes ($68.10 million FOB, 26.01% share), the United States 9,490.51 tonnes ($44.05 million, 16.05%), Malaysia 8,989.86 tonnes ($39.59 million, 15.20%), Belgium 5,225.45 tonnes ($24.18 million, 8.84%) and Italy 5,111.93 tonnes ($22.70 million, 8.65%). The United States paid the highest average price among major buyers at $4,641.42 per tonne, followed by Belgium at $4,628.11, Italy at $4,441.28, the Netherlands at $4,428.82 and Malaysia at $4,404.28. Japan paid an average of $8,423.22 per tonne on a much smaller volume of 465.43 tonnes.
Processed cocoa derivatives continued to support the sector's overall trade value. Exports totaled 31.12 million kg valued at $230.33 million FOB, averaging $7.40 per kg. Core industrial inputs accounted for 81.0% of processed export revenue: cocoa butter (12.14 million kg, $98.55 million), cocoa powder (7.32 million kg, $56.64 million) and cocoa cake (3.00 million kg, $31.42 million). Finished chocolate (2.95 million kg, $24.32 million), cocoa nibs (1.60 million kg, $16.80 million) and cocoa husk (4.11 million kg, $2.61 million) rounded out exports.
On the import side, Peru brought in 8.94 million kg of cocoa-related products worth $71.38 million CIF, averaging $7.99 per kg. Chocolate represented 66.6% of import value (5.99 million kg, $47.56 million), followed by cocoa powder ($13.62 million), cocoa butter ($6.00 million) and cocoa cake ($4.20 million).
During the first eight months of 2026, Peru exported 58,893.92 metric tonnes of raw cocoa beans, generating $265.44 million in FOB revenue. Export volumes dropped 19.0% year on year, while export value fell 58.7% from $642.52 million. The average price per tonne plunged 49.0%, from $8,837.11 to $4,507.14. Against a historical baseline, 2026 physical volumes remain healthy, exceeding the 2020-2023 average range of 30,388 to 43,724 tonnes, and average prices remain elevated relative to the 2020-2023 range of $2,455.10 to $2,785.63 per tonne.
Five markets absorbed roughly 74.7% of raw cocoa export volume. The Netherlands took 15,375.81 tonnes ($68.10 million FOB, 26.01% share), the United States 9,490.51 tonnes ($44.05 million, 16.05%), Malaysia 8,989.86 tonnes ($39.59 million, 15.20%), Belgium 5,225.45 tonnes ($24.18 million, 8.84%) and Italy 5,111.93 tonnes ($22.70 million, 8.65%). The United States paid the highest average price among major buyers at $4,641.42 per tonne, followed by Belgium at $4,628.11, Italy at $4,441.28, the Netherlands at $4,428.82 and Malaysia at $4,404.28. Japan paid an average of $8,423.22 per tonne on a much smaller volume of 465.43 tonnes.
Processed cocoa derivatives continued to support the sector's overall trade value. Exports totaled 31.12 million kg valued at $230.33 million FOB, averaging $7.40 per kg. Core industrial inputs accounted for 81.0% of processed export revenue: cocoa butter (12.14 million kg, $98.55 million), cocoa powder (7.32 million kg, $56.64 million) and cocoa cake (3.00 million kg, $31.42 million). Finished chocolate (2.95 million kg, $24.32 million), cocoa nibs (1.60 million kg, $16.80 million) and cocoa husk (4.11 million kg, $2.61 million) rounded out exports.
On the import side, Peru brought in 8.94 million kg of cocoa-related products worth $71.38 million CIF, averaging $7.99 per kg. Chocolate represented 66.6% of import value (5.99 million kg, $47.56 million), followed by cocoa powder ($13.62 million), cocoa butter ($6.00 million) and cocoa cake ($4.20 million).
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