Peru: Maize Oil Market Overview 2021

Maize Oil Market Size in Peru

For the third year in a row, the Peruvian maize oil market recorded growth in sales value, which increased by X% to $X in 2019. In general, consumption, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2011; however, from 2012 to 2019, consumption stood at a somewhat lower figure.

Maize Oil Exports

Exports from Peru

In 2019, shipments abroad of maize oil increased by X% to X tonnes, rising for the sixth year in a row after three years of decline. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2009 when exports increased by X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2010; however, from 2011 to 2019, exports remained at a lower figure.

In value terms, maize oil exports surged to $X in 2019. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Over the period under review, exports reached the maximum at $X in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

Ecuador (X tonnes), Guatemala (X tonnes) and Dominica (X tonnes) were the main destinations of maize oil exports from Peru, with a combined X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Guatemala ($X) and Dominica ($X) were the largest markets for maize oil exported from Peru worldwide, with a combined X% share of total exports.

Guatemala (+X% per year) recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average maize oil export price stood at $X per tonne in 2019, falling by -X% against the previous year. In general, the export price recorded a perceptible slump. The growth pace was the most rapid in 2011 an increase of X% against the previous year. As a result, export price reached the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2019, the country with the highest price was Guatemala ($X per tonne), while the average price for exports to Dominica ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Dominica, while the prices for the other major destinations experienced a decline.

Maize Oil Imports

Imports into Peru

For the third consecutive year, Peru recorded growth in purchases abroad of maize oil, which increased by X% to X tonnes in 2019. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. Imports peaked at X tonnes in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

In value terms, maize oil imports skyrocketed to $X in 2019. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Imports peaked at $X in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the U.S. (X tonnes) constituted the largest maize oil supplier to Peru, accounting for a X% share of total imports. Moreover, maize oil imports from the U.S. exceeded the figures recorded by the second-largest supplier, Argentina (X tonnes), fourfold.

From 2007 to 2019, the average annual growth rate of volume from the U.S. amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-X% per year) and Italy (-X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of maize oil to Peru, comprising X% of total imports. The second position in the ranking was occupied by Argentina ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from the U.S. stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-X% per year) and Italy (+X% per year).

Import Prices by Country

In 2019, the average maize oil import price amounted to $X per tonne, surging by X% against the previous year. In general, import price indicated a resilient expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, maize oil import price increased by +X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Argentina, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

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The U.S. (1.5M tonnes) constituted the country with the largest volume of maize oil consumption, comprising approx. 44% of total volume. Moreover, maize oil consumption in the U.S. exceeded the figures recorded by the second-largest consumer, China (513K tonnes), threefold. Brazil (125K tonnes) ranked third in terms of total consumption with a 3.6% share.

What are the largest producers of maize oil in the world?

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The U.S. (1.8M tonnes) constituted the country with the largest volume of maize oil production, accounting for 51% of total volume. Moreover, maize oil production in the U.S. exceeded the figures recorded by the second-largest producer, China (523K tonnes), threefold. The third position in this ranking was occupied by Brazil (136K tonnes), with a 3.9% share.

What are the leading suppliers of maize oil to Peru?

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In value terms, the U.S. ($59K) constituted the largest supplier of maize oil to Peru, comprising 82% of total imports. The second position in the ranking was occupied by Argentina ($11K), with a 15% share of total imports.

What are the leading importers of maize oil from Peru?

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In value terms, Ecuador ($2.1K), Guatemala ($1.5K) and Dominica ($990) appeared to be the largest markets for maize oil exported from Peru worldwide, together comprising 99% of total exports.

What is the average export price for maize oil in Peru?

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The average maize oil export price stood at $1,005 per tonne in 2019, declining by -12.4% against the previous year.

What is the average import price for maize oil in Peru?

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In 2019, the average maize oil import price amounted to $3,176 per tonne, increasing by 49% against the previous year.