Peru: Maize Market 2025

Maize Market Size in Peru

The Peruvian maize market contracted modestly to $X in 2022, which is down by -3.4% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the maximum level at $X in 2021, and then declined slightly in the following year.

Maize Production in Peru

In value terms, maize production declined modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 20%. Maize production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The average yield of maize in Peru fell slightly to X tons per ha in 2022, which is down by -3.5% compared with the previous year. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 7.6% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then shrank slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of maize in Peru dropped modestly to X ha, leveling off at the year before. Overall, the harvested area recorded a mild curtailment. The growth pace was the most rapid in 2015 with an increase of 6.2% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the maize harvested area failed to regain momentum.

Maize Exports

Exports from Peru

In 2022, the amount of maize exported from Peru expanded significantly to X tons, picking up by 5.3% on the year before. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 17%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, maize exports reached $X in 2022. Overall, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.8% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for maize exports from Peru, accounting for a 42% share of total exports. Moreover, maize exports to Spain exceeded the volume sent to the second major destination, Chile (X tons), twofold. The third position in this ranking was held by the United States (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+23.1% per year) and the United States (+6.7% per year).

In value terms, the largest markets for maize exported from Peru were Spain ($X), the United States ($X) and Japan ($X), together accounting for 69% of total exports. Germany, Chile, China and Ecuador lagged somewhat behind, together accounting for a further 17%.

Germany, with a CAGR of +24.6%, recorded the highest growth rate of the value of exports, among 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 maize export price stood at $X per ton in 2022, reducing by -3.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 25% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Chile ($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 China (+0.1%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Imports

Imports into Peru

In 2022, purchases abroad of maize decreased by -3.3% to X tons, falling for the third year in a row after eight years of growth. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.6% against 2019 indices. The pace of growth was the most pronounced in 2015 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, maize imports contracted slightly to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.6% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 24%. Imports peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of maize to Peru, accounting for a 81% share of total imports. Moreover, maize imports from Argentina exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Argentina amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+92.1% per year) and Brazil (-13.2% per year).

In value terms, Argentina ($X) constituted the largest supplier of maize to Peru, comprising 80% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+90.5% per year) and Brazil (-17.1% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the import price, however, saw a mild descent. The pace of growth was the most pronounced in 2013 when the average import price increased by 9.4%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Brazil ($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 United States (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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