Peru: Animal Feed Market 2024

Animal Feed Market Size in Peru

The Peruvian animal feed market rose modestly to $X in 2022, increasing by 2.7% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.6% against 2020 indices. Animal feed consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production in Peru

In value terms, animal feed production rose modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 -1.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports from Peru

In 2022, the amount of animal and pet feed exported from Peru dropped to X tons, with a decrease of -13% compared with the previous year. In general, total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal feed exports contracted to $X in 2022. Over the period under review, exports, however, saw a measured expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 40%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for animal feed exports from Peru, with a 81% share of total exports. Moreover, animal feed exports to Ecuador exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. Nicaragua (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-4.0% per year) and Nicaragua (+7.9% per year).

In value terms, Ecuador ($X) remains the key foreign market for animal and pet feed exports from Peru, comprising 78% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 6.8% share of total exports. It was followed by Colombia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+14.4% per year) and Colombia (-6.4% per year).

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 12% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Colombia ($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 Nicaragua (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Peru

In 2022, approx. X tons of animal and pet feed were imported into Peru; leveling off at 2021. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 36%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, animal feed imports reduced to $X in 2022. In general, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 36%. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of animal feed to Peru, with a 47% share of total imports. Moreover, animal feed imports from Ecuador exceeded the figures recorded by the second-largest supplier, Chile (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ecuador totaled +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+20.2% per year) and China (+13.3% per year).

In value terms, Ecuador ($X) constituted the largest supplier of animal and pet feed to Peru, comprising 31% of total imports. The second position in the ranking was held by Chile ($X), with a 15% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ecuador stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+21.3% per year) and the United States (-2.4% per year).

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, with a decrease of -5% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2014 when the average import price increased by 12%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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