Peru: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in Peru

The Peruvian pyrethrum and peppermint market fell significantly to $X in 2021, which is down by -35.5% against the previous year. In general, consumption continues to indicate a deep setback. Pyrethrum and peppermint consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Pyrethrum And Peppermint Production in Peru

In value terms, pyrethrum and peppermint production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 19% against the previous year. Pyrethrum and peppermint production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Pyrethrum And Peppermint Exports

Exports from Peru

In 2021, approx. X tons of pyrethrum and peppermint were exported from Peru; with an increase of 6.1% against the previous year's figure. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, pyrethrum and peppermint exports expanded to $X in 2021. In general, total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.4% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 52% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for pyrethrum and peppermint exports from Peru, with a 33% share of total exports. Moreover, pyrethrum and peppermint exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-1.4% per year) and Spain (+7.7% per year).

In value terms, the largest markets for pyrethrum and peppermint exported from Peru were Brazil ($X), the United States ($X) and Spain ($X), with a combined 52% share of total exports. Chile, Germany, Argentina, Japan, Uruguay, France, Ecuador and Mexico lagged somewhat behind, together accounting for a further 35%.

Argentina, with a CAGR of +21.5%, saw 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 pyrethrum and peppermint export price stood at $X per ton in 2021, falling by -2.5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Mexico ($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 Spain (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Peru

In 2021, overseas purchases of pyrethrum and peppermint increased by 15% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 70% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, pyrethrum and peppermint imports amounted to $X in 2021. In general, imports showed a perceptible increase. The pace of growth was the most pronounced in 2016 when imports increased by 51% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

Turkey (X tons), Nigeria (X tons) and Mexico (X tons) were the main suppliers of pyrethrum and peppermint imports to Peru, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were in Nigeria (with a CAGR of +432.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Nigeria ($X) and Mexico ($X) were the largest pyrethrum and peppermint suppliers to Peru, with a combined 64% share of total imports.

Among the main suppliers, Nigeria, with a CAGR of +439.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pyrethrum and peppermint import price amounted to $X per ton, shrinking by -12.5% against the previous year. In general, the import price saw a pronounced descent. The pace of growth was the most pronounced in 2013 when the average import price increased by 23%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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