Peru: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Peru

In 2021, the Peruvian preserved anchovies market decreased by -33.2% to $X for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, consumption, however, enjoyed perceptible growth. Preserved anchovies consumption peaked at $X in 2020, and then contracted significantly in the following year.

Preserved Anchovies Production in Peru

In value terms, preserved anchovies production rose modestly to $X in 2021 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 39%. Preserved anchovies production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Anchovies Exports

Exports from Peru

In 2021, overseas shipments of anchovies (prepared or preserved) were finally on the rise to reach X tons after two years of decline. Overall, total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 56%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, preserved anchovies exports skyrocketed to $X in 2021. In general, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 71%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Spain (X tons), the United States (X tons) and Italy (X tons) were the main destinations of preserved anchovies exports from Peru, with a combined 52% share of total exports. Germany, Haiti, the UK, Australia, Belgium, Bolivia, Romania, Japan and the Netherlands lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +31.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved anchovies exported from Peru were Spain ($X), the United States ($X) and Italy ($X), together comprising 58% of total exports. These countries were followed by Germany, the UK, Belgium, Australia, Japan, the Netherlands, Haiti, Romania and Bolivia, which together accounted for a further 35%.

Belgium, with a CAGR of +39.4%, saw the highest rates of growth with regard to 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

In 2021, the average preserved anchovies export price amounted to $X per ton, waning by -6.9% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies export price increased by +96.3% against 2012 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 15%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Peru

In 2021, the amount of anchovies (prepared or preserved) imported into Peru soared to X tons, increasing by 321% on the year before. Overall, imports showed a strong increase. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, preserved anchovies imports surged to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) was the main preserved anchovies supplier to Peru, accounting for a 94% share of total imports. Moreover, preserved anchovies imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to +57.0%.

In value terms, Italy ($X) constituted the largest supplier of anchovies (prepared or preserved) to Peru, comprising 84% of total imports. The second position in the ranking was taken by Spain ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +61.6%.

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, picking up by 6.6% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies import price decreased by -4.6% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 50%. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :