Peru: Fonio Market Overview 2021

Fonio Market Size in Peru

In 2020, the Peruvian fonio market increased by X% to $X, rising for the third year in a row after five years of decline. In general, consumption saw a perceptible decrease. The growth pace was the most rapid in 2018 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2020, consumption stood at a somewhat lower figure.

Fonio Production in Peru

In value terms, fonio production stood at $X in 2020 estimated in export prices. In general, production saw a pronounced slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2020, production stood at a somewhat lower figure.

In 2020, the average yield of fonio in Peru stood at X kg per ha, leveling off at the year before. Overall, the yield recorded 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.

In 2020, approx. X ha of fonio were harvested in Peru; remaining relatively unchanged against 2019 figures. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Fonio Exports

Exports from Peru

In 2020, shipments abroad of fonio decreased by X% to X kg, falling for the third year in a row after six years of growth. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. from 2018 to 2020, the growth exports remained at a lower figure.

In value terms, fonio exports totaled $X in 2020. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. from 2018 to 2020, the growth exports remained at a lower figure.

Exports by Country

Spain (X tonnes) was the main destination for fonio exports from Peru, with 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 rate of growth in terms 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 growth rate of value to Spain was relatively modest.

Export Prices by Country

The average fonio export price stood at $X per tonne in 2018, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic setback. Over the period under review, average export prices reached the maximum at $X per tonne in 2016; however, from 2017 to 2018, export prices stood at a somewhat lower figure.

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