Peru: Manuka Market 2024

Manuka Market Size in Peru

The Peruvian manuka market rose slightly to $X in 2022, surging by 2.1% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Manuka Production in Peru

In value terms, manuka production rose modestly to $X in 2022 estimated in export price. Overall, production, however, showed a mild reduction. The pace of growth was the most pronounced in 2016 when the production volume increased by 77% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Manuka Exports

Exports from Peru

In 2022, the amount of manuka exported from Peru declined to X tons, waning by -7.9% against the previous year. In general, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2016 when exports increased by 188%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, manuka exports reduced to $X in 2022. Over the period under review, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 145%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for manuka exports from Peru, accounting for a 85% share of total exports. Moreover, manuka exports to the United States exceeded the volume sent to the second major destination, Kuwait (X kg), ninefold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-1.4% per year) and Italy (-1.3% per year).

In value terms, the United States ($X) remains the key foreign market for manuka exports from Peru, comprising 87% of total exports. The second position in the ranking was held by Kuwait ($X), with a 4.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-6.8% per year) and Italy (-2.9% per year).

Export Prices by Country

In 2022, the average manuka export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 40%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Kuwait ($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 the United States (-1.2%), while the prices for the other major destinations experienced a decline.

Manuka Imports

Imports into Peru

In 2022, after three years of growth, there was decline in purchases abroad of manuka, when their volume decreased by -0.4% to X tons. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +8.4% 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 +3.8% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 89%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, manuka imports fell slightly to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +0.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 76%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of manuka to Peru, with a 41% share of total imports. Moreover, manuka imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X kg), twofold. Chile (X kg) ranked third in terms of total imports with a 0.4% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (0.0% per year) and Chile (-23.9% per year).

In value terms, the largest manuka suppliers to Peru were Spain ($X), Turkey ($X) and Italy ($X), together comprising 62% of total imports.

Spain, with a CAGR of +16.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average manuka import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, saw a slight descent. The growth pace was the most rapid in 2013 when the average import price increased by 8.3%. 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.

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 Italy ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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