Peru: Vegetable Oils Market 2024

Vegetable Oils Market Size in Peru

In 2022, the Peruvian vegetable oils market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a abrupt shrinkage. Vegetable oils consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Peru

In value terms, vegetable oils production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Oils Exports

Exports from Peru

In 2022, the amount of vegetable fats and oils exported from Peru shrank dramatically to X tons, dropping by X% compared with 2021 figures. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, vegetable oils exports shrank significantly to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

Chile (X tons) was the main destination for vegetable oils exports from Peru, with a X% share of total exports. Moreover, vegetable oils exports to Chile exceeded the volume sent to the second major destination, Argentina (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Chile stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and Bolivia (X% per year).

In value terms, Chile ($X) remains the key foreign market for vegetable fats and oils exports from Peru, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Chile totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and Bolivia (X% per year).

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, waning by X% against the previous year. In general, the export price recorded a slight decrease. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Chile ($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 Argentina (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Oils Imports

Imports into Peru

After two years of growth, purchases abroad of vegetable fats and oils decreased by X% to X tons in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable oils imports dropped to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Ecuador (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of vegetable oils imports to Peru, with a combined X% 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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Malaysia ($X) and Indonesia ($X) appeared to be the largest vegetable oils suppliers to Peru, together comprising X% of total imports.

Among the main suppliers, Malaysia, with a CAGR of X%, 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

The average vegetable oils import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price showed a perceptible slump. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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