Peru: Oil Crops Market 2024

Oil Crops Market Size in Peru

The Peruvian oil crops market dropped to $X in 2022, with a decrease of X% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Oil Crops Production in Peru

In value terms, oil crops production reduced modestly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of oil crops (primary) in Peru contracted slightly to X tons per ha in 2022, with a decrease of X% compared with 2021. Overall, the yield showed a mild downturn. The pace of growth appeared the most rapid in 2014 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average oil crops yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Peru; waning by X% on the previous year's figure. In general, the harvested area, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha, and then declined in the following year.

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Oil Crops Exports

Exports from Peru

In 2022, the amount of oil crops (primary) exported from Peru dropped to X tons, shrinking by X% compared with the year before. Over the period under review, exports, however, recorded prominent growth. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, oil crops exports declined to $X in 2022. Overall, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X tons) was the main destination for oil crops exports from Peru, accounting for a X% share of total exports. Moreover, oil crops exports to Panama exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Chile (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Chile (X% per year).

In value terms, the largest markets for oil crops exported from Peru were the Netherlands ($X), the United States ($X) and Panama ($X), with a combined X% share of total exports.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 oil crops export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops export price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Peru

In 2022, after two years of decline, there was significant growth in purchases abroad of oil crops (primary), when their volume increased by X% to X tons. In general, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, oil crops imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Bolivia (X tons) and Argentina (X tons) were the main suppliers of oil crops imports to Peru, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops suppliers to Peru were the United States ($X), Bolivia ($X) and Argentina ($X), together comprising X% of total imports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price saw a slight expansion. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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