Peru: Palm Oil Market 2025

Palm Oil Market Size in Peru

The Peruvian palm oil market stood at $X in 2022, rising by 7.8% against the previous year. Over the period under review, consumption, however, showed a slight contraction. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Palm Oil Production in Peru

In value terms, palm oil production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19%. Palm oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Palm Oil Exports

Exports from Peru

After four years of growth, shipments abroad of palm oil decreased by -5.5% to X tons in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,793% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, palm oil exports reduced remarkably to $X in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 1,552%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Colombia (X tons), Chile (X tons) and the Netherlands (X tons) were the main destinations of palm oil exports from Peru, with a combined 51% share of total exports. Mexico, Guatemala, Morocco, Bolivia and the Dominican Republic lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +115.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palm oil exported from Peru were Chile ($X), Colombia ($X) and Mexico ($X), with a combined 43% share of total exports. The Netherlands, Guatemala, Morocco, Bolivia and the Dominican Republic lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Guatemala, with a CAGR of +124.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average palm oil export price stood at $X per ton in 2022, which is down by -16.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Colombia ($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 Mexico (+9.7%), while the prices for the other major destinations experienced mixed trend patterns.

Palm Oil Imports

Imports into Peru

Palm oil imports into Peru rose notably to X tons in 2022, increasing by 11% compared with 2021 figures. Over the period under review, imports showed measured growth. The pace of growth appeared the most rapid in 2020 when imports increased by 101% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, palm oil imports shrank to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 101% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Indonesia (X tons), Ecuador (X tons) and Malaysia (X tons) were the main suppliers of palm oil imports to Peru, with a combined 98% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +33.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest palm oil suppliers to Peru were Indonesia ($X), Ecuador ($X) and Malaysia ($X), together accounting for 97% of total imports.

Malaysia, with a CAGR of +35.4%, saw the highest rates of growth with regard to 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 palm oil import price stood at $X per ton in 2022, reducing by -16.9% against the previous year. In general, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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