Peru: Salt Market 2024

Salt Market Size in Peru

In 2022, the Peruvian salt market decreased by -1.4% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, saw a slight contraction. The pace of growth was the most pronounced in 2021 when the market value increased by 7.3%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Salt Production in Peru

In value terms, salt production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced decline. The growth pace was the most rapid in 2020 with an increase of 8.1% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Salt Exports

Exports from Peru

In 2022, shipments abroad of salt and pure sodium chloride decreased by -22.8% to X tons, falling for the third year in a row after three years of growth. In general, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 -34.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 77% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, salt exports rose rapidly to $X in 2022. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 50%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for salt exports from Peru, with a 89% share of total exports. Moreover, salt exports to Colombia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was taken by Panama (X tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.8% per year) and Panama (+35.6% per year).

In value terms, the largest markets for salt exported from Peru were the United States ($X), Colombia ($X) and Chile ($X), with a combined 88% share of total exports. These countries were followed by Panama, which accounted for a further 4.9%.

Panama, with a CAGR of +32.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average salt export price stood at $X per ton in 2022, growing by 44% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia ($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 the United States (-0.2%), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Peru

After seven years of growth, overseas purchases of salt and pure sodium chloride decreased by -4.2% to X tons in 2022. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. Imports peaked at X tons in 2021, and then contracted slightly in the following year.

In value terms, salt imports fell to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +14.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 44%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest salt supplier to Peru, with a 74% share of total imports. Moreover, salt imports from Chile exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+36.6% per year) and the Netherlands (+44.6% per year).

In value terms, the largest salt suppliers to Peru were Chile ($X), China ($X) and the Netherlands ($X), together comprising 80% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +43.8%, 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 2022, the average salt import price amounted to $X per ton, waning by -7.2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, 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 New Zealand ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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