Peru: Frozen Potato Market 2024

Frozen Potato Market Size in Peru

The Peruvian frozen potato market skyrocketed to $X in 2021, picking up by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.4% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Frozen Potato Exports

Exports from Peru

In 2021, overseas shipments of frozen potatoes increased by 33% to X tons, rising for the third year in a row after two years of decline. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 63%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, frozen potato exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate strong growth. The growth pace was the most rapid in 2013 when exports increased by 73% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for frozen potato exports from Peru, accounting for a 45% share of total exports. Moreover, frozen potato exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), twofold. Chile (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+65.7% per year) and Chile (+22.7% per year).

In value terms, the largest markets for frozen potato exported from Peru were the United States ($X), the UK ($X) and Chile ($X), together comprising 78% of total exports. These countries were followed by Spain, Italy, Venezuela and Japan, which together accounted for a further 8.5%.

Spain, with a CAGR of +52.9%, saw 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

In 2021, the average frozen potato export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 6.9% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Chile ($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 Spain (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Peru

Frozen potato imports into Peru surged to X tons in 2021, with an increase of 32% compared with 2020. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.3% against 2019 indices. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen potato imports surged to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.9% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 45%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and the United States (X tons) were the main suppliers of frozen potato imports to Peru, with a combined 47% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +12.6%), while purchases for the other leaders experienced a decline.

In value terms, the Netherlands ($X) constituted the largest supplier of frozen potatoes to Peru, comprising 32% of total imports. The second position in the ranking was held by Belgium ($X), with a 14% share of total imports. It was followed by the United States, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+11.9% per year) and the United States (-12.8% per year).

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, increasing by 5.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 10% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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