Cocoa butter market in Peru

Earlier Report Observations

Peruvian cocoa butter production increased from 24 346 t in 2018 to 34 499 t in 2020, driven by local industry efforts to enhance productivity, including specific process improvements implemented by Compañía Nacional de Chocolates del Perú. The formal adoption of the national quality standard NTP-CODEX STAN 105:2018 for cocoa products helped align production with international requirements, while the establishment of a technical working group for good agricultural practices supported sustainable cultivation. Despite the global COVID-19 pandemic disrupting trade in 2020, the sector adapted to maintain output growth.

Production stabilized around 34 000 t in 2021-2022, supported by the implementation of the Padrón de Productores Agrarios which improved supply chain traceability, and a strong focus on organic exports, with Peru shipping 8 700 t of organic cocoa butter in 2022. The subsequent decline to 31 266 t in 2023 coincided with adverse climatic conditions affecting cocoa crops and the introduction of the European Union's Deforestation Regulation (EUDR), which required producers to meet stricter environmental due diligence for market access.

By 2024, cocoa butter exports reached record volumes, contributing to a milestone where Peru's total cocoa derivatives exports surpassed $1 billion, with cocoa butter representing 20% of that value. This export surge was fueled by growing international demand, particularly from Asian and American markets, even as the sector navigated ongoing challenges from global weather patterns and evolving regulatory standards.

Production cocoa butter in Peru

In kind, 2017-2020, t

Peru was among the world's leading producers of cocoa butter from 2017 to 2020, ranking 14th globally by production volume.

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

Peru's cocoa butter production increased for the third consecutive year. In 2020, the country produced 34 499 tonnes of cocoa butter, marking a substantial 22.5% increase from the previous year. Over the period from 2017 to 2020, production grew by 61.9%, with a compound annual growth rate of 17.4%.

Annual dynamics of production in Peru in kind, 2017-2020, t

In value, 2017-2020, M $ US

Peru's cocoa butter production rose for the third year in a row. In 2020, the output was valued at 189.5 million US dollars, indicating a significant 16.6% increase from 2019. From 2017 to 2020, production increased by 63%, with a compound annual growth rate of 17.7%.

Annual dynamics of production in Peru in value, 2017-2020, M $ US

Exports cocoa butter from Peru

Exports in kind, t

After two years of growth, Peru's cocoa butter exports declined. In 2020, exports amounted to 11 999 tonnes, down by 22.2% compared to the prior year. Over the period from 2017 to 2020, exports increased by 29%, with a compound annual growth rate of 8.8%. The maximum volume was recorded in 2019 at 15 421 tonnes, which also saw the largest increase of 44.1%.

Annual dynamics of product's exports from Peru in kind, 2017-2020, t

From 2017 to 2020, the United States, Germany, and the Netherlands formed the main cluster of markets for Peru's cocoa butter exports in kind. The United States accounted for 37.9% of exports, Germany for 25.9%, and the Netherlands for 25.1%, together representing 88.9% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Peru in kind, 2017-2020

Exports in value, K $ US

Following a two-year increase, cocoa butter shipments from Peru to abroad declined. In 2020, exports stood at 65 913 thousand US dollars, marking a steep drop of 25.9% compared to 2019. Over the period from 2017 to 2020, exports increased by 29.8%, with a compound annual growth rate of 9.1%. The maximum value was recorded in 2019 at 89 007 thousand US dollars, which also saw the largest increase of 34.2%.

Annual dynamics of product's exports from Peru in value, 2017-2020, K $ US

From 2017 to 2020, the United States, the Netherlands, and Germany were the main destinations for Peru's cocoa butter exports in value terms. The United States accounted for 37.8% of exports, the Netherlands for 25.5%, and Germany for 24.3%, together representing 87.6% of total exports.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Peru in value, 2017-2020

Imports cocoa butter to Peru

Imports in kind, t

Peru's volume of cocoa butter imports declined for the second consecutive year. In 2020, import volume totalled 1 338 tonnes, constituting a 6.4% decrease compared to 2019. Between 2017 and 2020, imports increased by 26%, equating to an 8.0% annualized rate. The maximum volume was recorded in 2018 at 1 445 tonnes, which also saw the largest increase of 36.0%.

Annual dynamics of product's imports to Peru in kind, 2017-2020, t

In the period from 2017 to 2020, the structure of Peru's cocoa butter imports in kind was marked by the predominance of Ecuador, which absorbed 88.0% of total flows, alongside a large number of minor partners.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Peru in kind, 2017-2020

Imports in value, K $ US

Peru's volume of cocoa butter imports declined for the second consecutive year. In 2020, a total of 8 670 thousand US dollars of cocoa butter was imported, which is 4.5% lower year-over-year. Over the period from 2017 to 2020, imports increased by 38.3%, with a compound annual growth rate of 11.4%. The maximum value was recorded in 2018 at 8 670 thousand US dollars, which saw the largest increase of 56.3%, while the largest decline occurred in 2019 at 7.3%.

Annual dynamics of product's imports to Peru in value, 2017-2020, K $ US

Throughout 2017 to 2020, Ecuador dominated the partner structure for Peru's cocoa butter imports in value terms, with a share of 88.0% of total flows; other markets had comparatively modest shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Peru in value, 2017-2020