Peru: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Peru

The Peruvian market for broad beans and horse beans (dry) stood at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Production of Broad Beans And Horse Beans (Dry) in Peru

In value terms, broad bean and horse bean production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 20%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of broad beans and horse beans (dry) in Peru reduced to X tons per ha, almost unchanged from 2021. The yield figure increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of 7.1%. The broad bean and horse bean yield peaked at X tons per ha in 2021, and then contracted 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 2022, the total area harvested in terms of broad beans and horse beans (dry) production in Peru expanded modestly to X ha, surging by 1.7% against the previous year. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the harvested area increased by 6.7%. Over the period under review, the harvested area dedicated to broad bean and horse bean production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Peru

In 2022, the amount of broad beans and horse beans (dry) exported from Peru surged to X tons, with an increase of 37% on 2021. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.3% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 77%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, broad bean and horse bean exports skyrocketed to $X in 2022. Overall, exports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 68%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of broad bean and horse bean exports from Peru, together comprising 45% of total exports. Canada, Kuwait, the Dominican Republic, France, Spain, Israel, Jordan, Palestine, Italy and Japan lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of +25.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for broad beans and horse beans (dry) exports from Peru, comprising 23% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.8% share of total exports. It was followed by Ecuador, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+16.7% per year) and Ecuador (+1.4% per year).

Export Prices by Country

The average export price for broad beans and horse beans (dry) stood at $X per ton in 2022, picking up by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 16% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Palestine ($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 Dominican Republic (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Peru

In 2022, supplies from abroad of broad beans and horse beans (dry) decreased by -52.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 1,322% against the previous year. As a result, imports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, broad bean and horse bean imports shrank markedly to $X in 2022. Over the period under review, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 1,814%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Spain (X tons) was the main supplier of broad bean and horse bean to Peru, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +32.5%.

In value terms, Spain ($X) constituted the largest supplier of broad beans and horse beans (dry) to Peru.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +32.9%.

Import Prices by Country

The average import price for broad beans and horse beans (dry) stood at $X per ton in 2022, growing by 9.9% against the previous year. Over the period under review, the import price continues to indicate slight growth. The most prominent rate of growth was recorded in 2014 an increase of 63%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +0.3% per year.

Source: IndexBox Platform

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