Peru: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Peru

The Peruvian seafood meals and pellets market reduced to $X in 2021, dropping by -13.1% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Peru

In value terms, seafood meals and pellets production totaled $X in 2021 estimated in export price. In general, production, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 49% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Peru

In 2021, seafood meals and pellets exports from Peru surged to X tons, increasing by 41% compared with the year before. In general, exports, however, showed a slight setback. The pace of growth was the most pronounced in 2017 when exports increased by 62% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, seafood meals and pellets exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; afterwards, it flattened through to 2021.

Exports by Country

China (X tons) was the main destination for seafood meals and pellets exports from Peru, accounting for a 81% share of total exports. Moreover, seafood meals and pellets exports to China exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-13.2% per year) and Japan (-9.9% per year).

In value terms, China ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Peru, comprising 80% of total exports. The second position in the ranking was taken by Germany ($X), with a 4.7% share of total exports. It was followed by Japan, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.0% per year) and Japan (-9.1% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, rising by 9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2013 an increase of 21% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Chile ($X per ton) and Japan ($X per ton), while the average price for exports to Vietnam ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Peru

In 2021, seafood meals and pellets imports into Peru skyrocketed to X tons, growing by 136% on the previous year's figure. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 253% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, seafood meals and pellets imports skyrocketed to $X in 2021. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2016 with an increase of 240%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Chile (X tons), Argentina (X tons) and Mexico (X tons) were the main suppliers of seafood meals and pellets imports to Peru, together accounting for 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +273.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Peru, comprising 63% of total imports. The second position in the ranking was taken by Argentina ($X), with a 26% share of total imports. It was followed by Mexico, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile totaled +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+22.0% per year) and Mexico (+192.6% per year).

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, rising by 23% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :