Peru: Onion And Shallot Market 2024

Onion And Shallot Market Size in Peru

In 2022, the Peruvian onion and shallot market was finally on the rise to reach $X after four years of decline. Overall, consumption, however, showed a noticeable reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Onion And Shallot Production in Peru

In value terms, onion and shallot production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 12% against the previous year. Onion and shallot production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The average yield of onions and shallots in Peru was estimated at X tons per ha in 2022, leveling off at the year before. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 6.1%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average onion and shallot yield remained at a somewhat lower figure. 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 onions and shallots in Peru dropped to X ha, remaining relatively unchanged against the previous year's figure. In general, the harvested area continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2015 when the harvested area increased by 3.2% against the previous year. Over the period under review, the harvested area dedicated to onion and shallot production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Onion And Shallot Exports

Exports from Peru

After four years of growth, overseas shipments of onions and shallots decreased by -7% to X tons in 2022. In general, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 37%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, onion and shallot exports declined to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 48%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X tons) was the main destination for onion and shallot exports from Peru, accounting for a 59% share of total exports. Moreover, onion and shallot exports to the United States exceeded the volume sent to the second major destination, Colombia (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+0.5% per year) and Spain (+17.1% per year).

In value terms, the United States ($X) remains the key foreign market for onions and shallots exports from Peru, comprising 68% of total exports. The second position in the ranking was held by Spain ($X), with a 13% share of total exports. It was followed by Colombia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+22.9% per year) and Colombia (+2.1% per year).

Export Prices by Country

The average onion and shallot export price stood at $X per ton in 2022, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2015 an increase of 12%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Chile ($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 Bolivia (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Onion And Shallot Imports

Imports into Peru

In 2022, overseas purchases of onions and shallots decreased by -4.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, onion and shallot imports reduced to $X in 2022. Overall, imports showed a abrupt descent. The growth pace was the most rapid in 2013 when imports increased by 104% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main onion and shallot supplier to Peru, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +19.5%.

In value terms, the United States ($X) constituted the largest supplier of onions and shallots to Peru.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +6.6%.

Import Prices by Country

In 2022, the average onion and shallot import price amounted to $X per ton, approximately equating the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 168% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +95.1% per year.

Source: IndexBox Platform

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