The U.S. Department of Agriculture (USDA) published an update regarding Peruvian cocoa production which states that cocoa production in the country is set to increase 5% in 2014, and increases in planting and improvements in yields will boost Peru to become a top ten cocoa exporting countries within upcoming years. Currently ranked 12th largest cocoa exporter in the world, and 8th top producer in the world, Peru is becoming increasingly important as production is forecast to reach 70,000 tons in 2014 as high global prices and government incentives spur farmers to increase production. Peru accounts for 1.6% of total global supply and its cocoa bean exports are forecast to rise 18% to reach 37,000 tons with top buyers being the Netherlands, Germany, and Belgium. Colombia is also planning to rejuvenate its cocoa industry with plans to replant 80,000 hectares of its acreage, but Brazil, the top producer in Latin America, states that it forecasts its production to decline by 15.7% over the next ten years.
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