MERCOSUR: Dry Peas Market 2024

Dry Peas Market Size in MERCOSUR

In 2021, after three years of growth, there was significant decline in the MERCOSUR dry peas market, when its value decreased by -8.2% to $X. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Dry Peas Production in MERCOSUR

In value terms, dry peas production reduced to $X in 2021 estimated in export price. Overall, production saw a slight decrease. The growth pace was the most rapid in 2019 when the production volume increased by 42%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Argentina (X tons) remains the largest dry peas producing country in MERCOSUR, accounting for 61% of total volume. Moreover, dry peas production in Argentina exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. The third position in this ranking was taken by Colombia (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume in Argentina was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Peru (-0.8% per year) and Colombia (-2.5% per year).

In 2021, the average dry peas yield in MERCOSUR dropped to X tons per ha, which is down by -7.2% on the previous year. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the yield increased by 23%. Over the period under review, the dry peas yield hit record highs at X tons per ha in 2020, and then dropped in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of peas (dry) were harvested in MERCOSUR; flattening at the year before. Over the period under review, the harvested area continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 with an increase of 21% against the previous year. Over the period under review, the harvested area dedicated to dry peas production reached the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Dry Peas Exports

Exports in MERCOSUR

In 2021, the amount of peas (dry) exported in MERCOSUR shrank significantly to X tons, dropping by -24.7% on 2020. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 36%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, dry peas exports reduced dramatically to $X in 2021. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 15% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina prevails in exports structure, reaching X tons, which was approx. 96% of total exports in 2021. Chile (X tons) followed a long way behind the leaders.

Exports from Argentina decreased at an average annual rate of -11.8% from 2012 to 2021. At the same time, Chile (+33.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +33.5% from 2012-2021. While the share of Chile (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-2 p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest dry peas supplier in MERCOSUR, comprising 90% of total exports. The second position in the ranking was held by Chile ($X), with a 6.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Argentina totaled -10.6%.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, growing by 10% against the previous year. In general, the export price saw a mild increase. The most prominent rate of growth was recorded in 2013 an increase of 85% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while Argentina amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.3%).

Dry Peas Imports

Imports in MERCOSUR

In 2021, the amount of peas (dry) imported in MERCOSUR dropped to X tons, reducing by -12.5% compared with the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 34%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, dry peas imports reduced to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 44% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Peru (X tons), Colombia (X tons) and Brazil (X tons) represented roughly 76% of total imports in 2021. It was distantly followed by Venezuela (X tons), committing a 14% share of total imports. The following importers - Chile (X tons), Ecuador (X tons) and Guyana (X tons) - together made up 8.8% of total imports.

From 2012 to 2021, the biggest increases were in Peru (with a CAGR of +4.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest dry peas importing markets in MERCOSUR were Peru ($X), Colombia ($X) and Brazil ($X), together comprising 73% of total imports.

In terms of the main importing countries, Peru, with a CAGR of +5.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, surging by 7.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Chile ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform