Peru: Market for Lucerne (Alfalfa) Meal And Pellets 2025

Market Size for Lucerne (Alfalfa) Meal And Pellets in Peru

In 2021, the Peruvian lucerne meal and pellets market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a abrupt slump. Lucerne meal and pellets consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in Peru

In value terms, lucerne meal and pellets production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The growth pace was the most rapid in 2016 when the production volume increased by 12%. Lucerne meal and pellets production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports from Peru

In 2021, after two years of growth, there was significant decline in shipments abroad of lucerne (alfalfa) meal and pellets, when their volume decreased by -38.1% to X tons. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 457% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted remarkably in the following year.

In value terms, lucerne meal and pellets exports contracted sharply to $X in 2021. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 476% against the previous year. The exports peaked at $X in 2020, and then shrank markedly in the following year.

Exports by Country

Colombia (X tons) was the main destination for lucerne meal and pellets exports from Peru, with a 62% share of total exports. Moreover, lucerne meal and pellets exports to Colombia exceeded the volume sent to the second major destination, Chile (X tons), threefold. The third position in this ranking was taken by the Czech Republic (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to -46.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+18.6% per year) and the Czech Republic (+59.3% per year).

In value terms, Colombia ($X), Chile ($X) and the Czech Republic ($X) appeared to be the largest markets for lucerne meal and pellets exported from Peru worldwide, together comprising 96% of total exports.

Among the main countries of destination, Chile, with a CAGR of +46.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average lucerne meal and pellets export price stood at $X per ton in 2021, with an increase of 20% against the previous year. Over the period under review, the export price, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2015 an increase of 91%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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 Czech Republic ($X per ton), while the average price for exports to Colombia ($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 Chile (+23.7%), while the prices for the other major destinations experienced a decline.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports into Peru

In 2021, purchases abroad of lucerne (alfalfa) meal and pellets increased by 33% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a deep slump. The pace of growth was the most pronounced in 2014 with an increase of 77% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, lucerne meal and pellets imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 95% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Chile (X tons) was the main supplier of lucerne meal and pellets to Peru, accounting for a 92% share of total imports. Moreover, lucerne meal and pellets imports from Chile exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Chile amounted to -7.7%.

In value terms, Chile ($X) constituted the largest supplier of lucerne (alfalfa) meal and pellets to Peru, comprising 95% of total imports. The second position in the ranking was taken by Argentina ($X), with a 5.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to -7.0%.

Import Prices by Country

In 2021, the average lucerne meal and pellets import price amounted to $X per ton, waning by -1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 32%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Argentina totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+0.7%).

Source: IndexBox Platform

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