Peru: Sugar Crop Market 2024

Sugar Crop Market Size in Peru

In 2022, the Peruvian sugar crop market decreased by X% to $X, falling for the fourth year in a row after two years of growth. Over the period under review, consumption continues to indicate a deep slump. Sugar crop consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugar Crop Production in Peru

In value terms, sugar crop production declined to $X in 2022 estimated in export price. Overall, production showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average sugar crop yield in Peru expanded modestly to X tons per ha, surging by X% compared with the previous year. In general, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the average sugar crop yield reached the maximum level at X tons per ha in 2013; however, from 2014 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar crop harvested area in Peru dropped to X ha in 2022, with a decrease of X% against the previous year. Overall, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the sugar crop harvested area failed to regain momentum.

Sugar Crop Exports

Exports from Peru

In 2022, the amount of sugar crops exported from Peru contracted markedly to X tons, which is down by X% compared with 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sugar crop exports reduced remarkably to $X in 2022. In general, exports saw a slight decrease. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for sugar crop exports from Peru, accounting for a X% share of total exports. Moreover, sugar crop exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), ninefold. The third position in this ranking was taken by Canada (X kg), with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for sugar crops exports from Peru, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with an X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average sugar crop export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Spain ($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 mixed trend patterns.

Sugar Crop Imports

Imports into Peru

In 2022, imports of sugar crops into Peru reduced to X tons, falling by X% compared with 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sugar crop imports totaled $X in 2022. Overall, total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Spain (X tons) was the main sugar crop supplier to Peru, accounting for a X% share of total imports. Moreover, sugar crop imports from Spain exceeded the figures recorded by the second-largest supplier, Chile (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled X%.

In value terms, Spain ($X) constituted the largest supplier of sugar crops to Peru, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Spain stood at X%.

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Spain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%).

Source: IndexBox Platform

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