MERCOSUR: Quinoa Market 2024

Quinoa Market Size in MERCOSUR

In 2021, the MERCOSUR quinoa market increased by 2% to $X, rising for the fourth consecutive year after three years of decline. Over the period under review, consumption continues to indicate a measured increase. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Quinoa Production in MERCOSUR

In value terms, quinoa production fell modestly to $X in 2021 estimated in export price. Overall, production posted a remarkable increase. The growth pace was the most rapid in 2014 when the production volume increased by 168% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Peru (X tons) remains the largest quinoa producing country in MERCOSUR, accounting for 96% of total volume. Moreover, quinoa production in Peru exceeded the figures recorded by the second-largest producer, Ecuador (X tons), more than tenfold.

In Peru, quinoa production expanded at an average annual rate of +10.3% over the period from 2012-2021.

In 2021, the average quinoa yield in MERCOSUR expanded sharply to X tons per ha, increasing by 5.7% against 2020. The yield figure increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by 42% against the previous year. As a result, the yield attained the peak level of X tons per ha; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the quinoa harvested area in MERCOSUR amounted to X ha, leveling off at the previous year. The total harvested area indicated a buoyant expansion from 2012 to 2021: its figure increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, quinoa harvested area increased by +11.5% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 52%. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2021, the harvested area remained at a lower figure.

Quinoa Exports

Exports in MERCOSUR

In 2021, overseas shipments of quinoa increased by 0.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 76% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, quinoa exports shrank remarkably to $X in 2021. In general, exports saw strong growth. The pace of growth was the most pronounced in 2013 when exports increased by 156% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Peru prevails in exports structure, finishing at X tons, which was approx. 97% of total exports in 2021. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to quinoa exports from Peru stood at +19.1%. At the same time, Ecuador (+37.7%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +37.7% from 2012-2021. Ecuador (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Peru saw its share reduced by -2.6% from 2012 to 2021, respectively.

In value terms, Peru ($X) remains the largest quinoa supplier in MERCOSUR, comprising 97% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 3.1% share of total exports.

In Peru, quinoa exports increased at an average annual rate of +14.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, falling by -16.3% against the previous year. In general, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when the export price increased by 46% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-3.9%).

Quinoa Imports

Imports in MERCOSUR

In 2021, the amount of quinoa imported in MERCOSUR dropped remarkably to X tons, falling by -16.4% on the year before. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 69% against the previous year. The volume of import peaked at X tons in 2020, and then reduced remarkably in the following year.

In value terms, quinoa imports fell remarkably to $X in 2021. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 129%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Chile represented the key importing country with an import of around X tons, which reached 45% of total imports. Brazil (X tons) ranks second in terms of the total imports with a 28% share, followed by Argentina (20%). Uruguay (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest quinoa importing markets in MERCOSUR were Chile ($X), Brazil ($X) and Argentina ($X), together accounting for 93% of total imports.

Chile, with a CAGR of +40.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, declining by -13.7% against the previous year. Over the period under review, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2013 when the import price increased by 36% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Brazil ($X per ton) and Chile ($X per ton), while Argentina ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform