Peruvian cocoa should take advantage of the strong growth of the Russian chocolate market

The Russian chocolate market is booming, with a projected value of 8.9 billion euros and an average annual growth rate of 8.4% from 2019 to 2024, making it the second largest in Europe. This growth presents a significant opportunity for Peruvian cocoa exporters, especially given the demand for high-quality and organic products. In 2023, Peru exported 105 thousand tons of cocoa to Russia for a value of 400 million dollars, and this is expected to increase to 132 thousand tons in 2024, valued at 1,028 million dollars. Russia is not only a consumer market but also exports chocolate to other countries like China, Kazakhstan, and the US.

(Agraria.pe) The chocolate market in Russia has had an impressive development, reaching an estimated value of 8.9 billion euros, which positions it as the second largest in Europe. It also shows an average annual growth of 8.4% between 2019 and 2024, representing a significant opportunity for Peruvian cocoa exporters, especially given the growing demand for high-quality and organic products. “Per capita consumption in Russia is approximately 7,500 kg of chocolate per year, which indicates a strong preference for these products in the population. In fact, four out of ten Russians consume chocolate on a daily basis,” explains Nataly Fabrikantova, founder of Marcafab, a marketing and development agency for the Coffee and Cocoa sector of cooperatives and producers in Peru, who organized the conference “Trends and perspectives of the Russian market for Peruvian cocoa 2024.” Geni Fundes, general manager of Central Café & Cacao, a cooperative that brings together nine thousand producers ...