Peru: Butter Market 2024

Butter Market Size in Peru

The Peruvian butter market stood at $X in 2022, picking up by 3.9% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 -3.6% against 2020 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Butter Production in Peru

In value terms, butter production rose modestly to $X in 2022 estimated in export price. Over the period under review, production showed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 156%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Butter Exports

Exports from Peru

In 2022, after eight years of growth, there was significant decline in overseas shipments of butter, when their volume decreased by -5.4% to X tons. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 379%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, butter exports stood at $X in 2022. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 407%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Free Zones (X tons), Chile (X tons) and Italy (X tons) were the main destinations of butter exports from Peru, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +96.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter exported from Peru were Chile ($X), Free Zones ($X) and Italy ($X), with a combined 87% share of total exports.

Italy, with a CAGR of +92.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average butter export price stood at $X per ton in 2022, growing by 6.4% against the previous year. Over the period under review, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 140% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Free Zones ($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 Italy (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Peru

In 2022, butter imports into Peru reduced modestly to X tons, which is down by -2.4% against the previous year's figure. Over the period under review, imports saw a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 32%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, butter imports fell slightly to $X in 2022. In general, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Uruguay (X tons), Malaysia (X tons) and Bolivia (X tons) were the main suppliers of butter imports to Peru, with a combined 73% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +37.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butter suppliers to Peru were Uruguay ($X), Bolivia ($X) and the United States ($X), with a combined 74% share of total imports.

The United States, with a CAGR of +16.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter import price stood at $X per ton in 2022, declining by -1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2017 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a 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 UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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