Peru: Soya Bean Market 2024

Soya Bean Market Size in Peru

The Peruvian soya bean market skyrocketed to $X in 2021, surging by 18% against the previous year. In general, consumption, however, recorded a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Soya Bean Production in Peru

In value terms, soya bean production fell dramatically to $X in 2021 estimated in export price. In general, production recorded a perceptible decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by 166% against the previous year. Soya bean production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

The average yield of soya beans in Peru fell to X tons per ha in 2021, which is down by -11.7% against 2020 figures. The yield figure increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 27%. As a result, the yield reached the peak level of X tons per ha, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of soya beans production in Peru totaled X ha, with an increase of 11% against 2020 figures. Overall, the harvested area, however, recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2014 to 2021, the growth of the soya bean harvested area remained at a somewhat lower figure.

Soya Bean Exports

Exports from Peru

After two years of decline, shipments abroad of soya beans increased by 154% to X tons in 2021. Overall, exports, however, continue to indicate a sharp contraction. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, soya bean exports soared to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Spain (X tons) and Chile (X kg) were the main destinations of soya bean exports from Peru, with a combined 96% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +27.3%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the United States ($X) and Italy ($X) were the largest markets for soya bean exported from Peru worldwide, together accounting for 96% of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +57.9%, recorded the highest growth rate of 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

In 2021, the average soya bean export price amounted to $X per ton, dropping by -14.3% against the previous year. Over the period under review, the export price, however, enjoyed mild growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 319%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Chile ($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 Italy (+26.0%), while the prices for the other major destinations experienced mixed trend patterns.

Soya Bean Imports

Imports into Peru

In 2021, the amount of soya beans imported into Peru dropped to X tons, declining by -9.6% compared with the previous year's figure. Over the period under review, imports, however, posted prominent growth. The growth pace was the most rapid in 2013 when imports increased by 75%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, soya bean imports surged to $X in 2021. In general, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 66%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Paraguay (X tons) and Bolivia (X tons) were the main suppliers of soya bean imports to Peru, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +54.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soya bean suppliers to Peru were the United States ($X), Paraguay ($X) and Bolivia ($X), together accounting for 78% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +48.2%, recorded the highest rates of growth with regard to 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

The average soya bean import price stood at $X per ton in 2021, jumping by 42% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Uruguay ($X per ton) and Argentina ($X per ton), while the price for Bolivia ($X per ton) and Panama ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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