Peru: Turkey Meat Market 2024

Turkey Meat Market Size in Peru

The Peruvian turkey meat market fell to $X in 2022, with a decrease of -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Turkey Meat Exports

Exports from Peru

In 2022, approx. X tons of turkey meat were exported from Peru; with a decrease of -24% on the year before. Over the period under review, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by 93% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, turkey meat exports contracted remarkably to $X in 2022. Overall, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2021 with an increase of 73%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for turkey meat exports from Peru, with a 59% share of total exports. Moreover, turkey meat exports to Colombia exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. The third position in this ranking was taken by Cuba (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia amounted to -25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-27.5% per year) and Cuba (+8.1% per year).

In value terms, Colombia ($X) remains the key foreign market for turkey meat exports from Peru, comprising 78% of total exports. The second position in the ranking was taken by Panama ($X), with a 9.3% share of total exports. It was followed by Cuba, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled -23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-26.1% per year) and Cuba (+6.2% per year).

Export Prices by Country

The average turkey meat export price stood at $X per ton in 2022, surging by 4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Ecuador ($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 Panama (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Turkey Meat Imports

Imports into Peru

Turkey meat imports into Peru shrank to X tons in 2022, with a decrease of -9.1% on the previous year's figure. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +11.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 43%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, turkey meat imports declined to $X in 2022. Overall, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 47%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), Brazil (X tons) and Chile (X tons) were the main suppliers of turkey meat imports to Peru.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +4.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest turkey meat suppliers to Peru were Brazil ($X), the United States ($X) and Chile ($X).

Brazil, with a CAGR of +4.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average turkey meat import price stood at $X per ton in 2022, which is down by -1.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 27%. The import price peaked at $X per ton in 2021, and then contracted slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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