Peru: Glutamic Acid Market 2024

Glutamic Acid Market Size in Peru

The Peruvian glutamic acid market contracted significantly to $X in 2022, dropping by -26.2% against the previous year. In general, consumption, however, saw a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then fell dramatically in the following year.

Glutamic Acid Production in Peru

In value terms, glutamic acid production amounted to $X in 2022 estimated in export price. Overall, production recorded a dramatic contraction. The most prominent rate of growth was recorded in 2016 with an increase of 605,288,900%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Glutamic Acid Exports

Exports from Peru

In 2022, after three years of decline, there was growth in overseas shipments of glutamic acid and its salts, when their volume increased by 0.8% to X tons. In general, exports, however, showed a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 5.9%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, glutamic acid exports reduced to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 4.2% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons), Bolivia (X tons) and Chile (X tons) were the main destinations of glutamic acid exports from Peru, with a combined 82% share of total exports. The United States, Spain, Colombia and Guatemala lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +5.1%), while the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X), Ecuador ($X) and Chile ($X) appeared to be the largest markets for glutamic acid exported from Peru worldwide, with a combined 72% share of total exports. The United States, Spain, Guatemala and Colombia lagged somewhat behind, together accounting for a further 15%.

Spain, with a CAGR of +2.5%, recorded the highest growth rate of 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 2022, the average glutamic acid export price amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 4.1% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Ecuador ($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 Guatemala (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into Peru

In 2022, approx. X tons of glutamic acid and its salts were imported into Peru; which is down by -18.6% on 2021. Overall, imports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2019 when imports increased by 2,188% against the previous year. Imports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, glutamic acid imports fell significantly to $X in 2022. In general, imports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,088% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glutamic acid to Peru, accounting for a 89% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.9%.

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to Peru, comprising 72% of total imports. The second position in the ranking was held by Brazil ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +2.4%.

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 33%. As a result, import price attained the peak level of $X per ton. From 2017 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 Brazil ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.4%).

Source: IndexBox Platform

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