Peru: Cocoa Powder Market 2024

Cocoa Powder Market Size in Peru

The Peruvian cocoa powder market shrank to $X in 2022, reducing by -6.3% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Cocoa Powder Production in Peru

In value terms, cocoa powder production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Peru

Cocoa powder exports from Peru rose rapidly to X tons in 2022, surging by 6% compared with the previous year. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 34% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa powder exports fell modestly to $X in 2022. In general, exports showed strong growth. The growth pace was the most rapid in 2020 when exports increased by 34% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Chile (X tons), Argentina (X tons) and the United States (X tons) were the main destinations of cocoa powder exports from Peru, with a combined 56% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of +80.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa powder exported from Peru were Chile ($X), Argentina ($X) and the United States ($X), together accounting for 58% of total exports.

Argentina, with a CAGR of +68.7%, 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 powder export price amounted to $X per ton, reducing by -8.9% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2021 an increase of 20%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia ($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 Venezuela (-3.4%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Peru

After two years of growth, supplies from abroad of cocoa powder (not sweetened) decreased by -16.2% to X tons in 2022. In general, imports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, imports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, cocoa powder imports contracted markedly to $X in 2022. Overall, imports saw a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 71% against the previous year. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

Malaysia (X tons), the United States (X tons) and Singapore (X tons) were the main suppliers of cocoa powder imports to Peru, with a combined 67% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +62.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Malaysia ($X) and Singapore ($X) appeared to be the largest cocoa powder suppliers to Peru, with a combined 73% share of total imports.

The United States, with a CAGR of +49.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, shrinking by -5.4% against the previous year. In general, the import price saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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