ADEX: There is an unmet global demand for more than 800 thousand tons of cocoa due to climate problems, pests or viruses in Peru

Published 2024년 10월 1일

Tridge summary

Between January and July 2024, Peruvian cocoa and its derivatives exports saw a significant surge, reaching US$ 613,643,000, which is twice the amount recorded in the same period in 2023. This increase is primarily due to a 300% rise in cocoa prices and a global cocoa shortage. Despite facing challenges such as compliance with the EUDR Zero Deforestation regulation and increasing competition, Peru managed to rank as the No. 8 world producer and the No. 3 in Latin America. The exports were distributed to 62 markets, with the United States, Indonesia, and Malaysia being the leading recipients. Cocoa beans were the most exported product, contributing to 65% of the total.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Agraria.pe) Between January and July 2024, shipments of Peruvian cocoa and its derivatives abroad amounted to US$ 613,643,000, showing a growth of +200% compared to the US$ 204,616,000 reported in the same period in 2023, reported the president of the Coffee and Cocoa Committee of the Association of Exporters (ADEX), José Mejía Polanco. “The good performance is due to the increase in the price of cocoa by 300%. While in March of last year it was quoted at US$ 2,900 per ton, now it is around US$ 11,500. The shortage also influences, the world needs more than 5 million tons of cocoa and production is 4,400,000 tons, that is, there is an unmet demand of more than 800 thousand tons due to climate problems, pests or viruses,” he explained. Thanks to the great versatility of national cocoa –he continued–, in 2023 Peru occupied the No. 8 position as a world producer of this grain and the No. 3 position in Latin America. In addition, it is the second world supplier of organic cocoa. “The ...

Source: Agraria