News

High cocoa prices will benefit Peruvian producers, assures the Government

Cocoa Bean
Peru
Regulation & Compliances
Market & Price Trends
Published Feb 24, 2024

Tridge summary

Peruvian cocoa producers are set to benefit from a significant increase in international cocoa prices, which have surpassed $5,500 per ton. This price hike will enhance profitability for small producers, allowing them to sell their product for up to 21 soles ($5.5) per kilo, a threefold increase from previous years. Peru, a leading producer of double-certified organic and fairtrade cocoa, saw a 38.4% increase in cocoa exports in 2023, amounting to $219 million.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Lima, February 23 (EFE).- Peruvian cocoa producers will benefit from the increase in the price of this product in the international market, which has reached "a historic milestone" by exceeding $5,500 per ton on the stock market. New York, the Ministry of Agriculture and Irrigation (Midagri) highlighted this Friday in a statement. The director of promotion and commercial coordination of the Sierra y Selva Exportadora program, Javier Arenas, pointed out that this increase will allow small producers to improve their profitability, by marketing their product for up to 21 soles (5.5 dollars) per kilo in the field of cultivation, which will triple its value compared to previous years. "According to international projections, the price of cocoa is expected to remain high in the coming months," commented the specialist, urging producers to take advantage of this "favorable and unique scenario" to increase productivity in their crop fields. In that sense, Midagri highlighted "the growing ...
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