Peru: Fonio Market Overview 2021

Fonio Market Size in Peru

In 2019, the Peruvian fonio market increased by X% to $X, rising for the second consecutive year after five years of decline. In general, consumption recorded a pronounced curtailment. The growth pace was the most rapid in 2018 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2019, consumption remained at a lower figure.

Fonio Production in Peru

In value terms, fonio production expanded rapidly to $X in 2019 estimated in export prices. In general, production saw a deep setback. Fonio production peaked at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

In 2019, the average fonio yield in Peru was estimated at X kg per ha, standing approx. at the year before. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The fonio harvested area in Peru amounted to X ha in 2019, stabilizing at 2018 figures. Overall, the harvested area recorded a relatively flat trend pattern.

Fonio Exports

Exports from Peru

In 2019, overseas shipments of fonio decreased by -X% to X kg, falling for the second consecutive year after six years of growth. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes. From 2018 to 2019, the growth exports remained at a somewhat lower figure.

In value terms, fonio exports reduced rapidly to $X in 2019. In general, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. From 2018 to 2019, the growth exports remained at a lower figure.

Exports by Country

Spain (X tonnes) was the main destination for fonio exports from Peru, accounting for a X% share of total exports. Moreover, fonio exports to Spain exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2018, the average annual growth rate of volume to Spain was relatively modest.

In value terms, Spain ($X) emerged as the key foreign market for fonio exports from Peru, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2012 to 2018, the average annual rate of growth in terms of value to Spain was relatively modest.

Export Prices by Country

The average fonio export price stood at $X per tonne in 2018, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a sharp downturn. Over the period under review, average export prices hit record highs at $X per tonne in 2016; however, from 2017 to 2018, export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2018, the country with the highest price was Spain ($X per tonne), while the average price for exports to Canada stood at $X per tonne.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Spain.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fonio in the world?

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Guinea (530K tonnes) remains the largest fonio consuming country worldwide, accounting for 76% of total volume. Moreover, fonio consumption in Guinea exceeded the figures recorded by the second-largest consumer, Nigeria (83K tonnes), sixfold. Mali (41K tonnes) ranked third in terms of total consumption with a 5.8% share.

What are the largest producers of fonio in the world?

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Guinea (530K tonnes) constituted the country with the largest volume of fonio production, comprising approx. 76% of total volume. Moreover, fonio production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (83K tonnes), sixfold. The third position in this ranking was occupied by Mali (41K tonnes), with a 5.8% share.

What are the leading importers of fonio from Peru?

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In value terms, Spain ($25K) emerged as the key foreign market for fonio exports from Peru, comprising 97% of total exports. The second position in the ranking was occupied by Canada ($854), with a 3.3% share of total exports.

What is the average export price for fonio in Peru?

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The average fonio export price stood at $1,535 per tonne in 2018, increasing by 11% against the previous year.