Peru: Vegetable Product Market 2025

Vegetable Product Market Size in Peru

In 2022, the Peruvian vegetable product market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Vegetable Product Production in Peru

In value terms, vegetable product production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 37%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of vegetable products in Peru expanded to X tons per ha in 2022, surging by 3.4% compared with the previous year's figure. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 8.1%. Over the period under review, the average vegetable product yield reached the peak level at X tons per ha in 2013; however, from 2014 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vegetable product harvested area in Peru reduced to X ha in 2022, approximately equating 2021 figures. In general, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 9.9%. As a result, the harvested area attained the peak level of X ha. From 2015 to 2022, the growth of the vegetable product harvested area remained at a somewhat lower figure.

Vegetable Product Exports

Exports from Peru

In 2022, exports of vegetable products from Peru shrank significantly to X tons, reducing by -18.5% against the previous year. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 21%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, vegetable product exports contracted rapidly to $X in 2022. In general, exports recorded a perceptible downturn. The growth pace was the most rapid in 2013 when exports increased by 58% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for vegetable product exports from Peru, with a 60% share of total exports. Moreover, vegetable product exports to the United States exceeded the volume sent to the second major destination, Free Zones (X tons), twofold. Brazil (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-26.1% per year) and Brazil (+16.1% per year).

In value terms, the United States ($X), Free Zones ($X) and Hong Kong SAR ($X) appeared to be the largest markets for vegetable product exported from Peru worldwide, with a combined 86% share of total exports.

Hong Kong SAR, with a CAGR of +75.1%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average vegetable product export price amounted to $X per ton, waning by -4.3% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product export price decreased by -4.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 60%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 China ($X per ton), while the average price for exports to South Korea ($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 China (+38.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Peru

After two years of growth, overseas purchases of vegetable products decreased by less than 0.1% to X tons in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 123%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable product imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2014 with an increase of 161%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Brazil (X tons), Spain (X tons) and China (X tons) were the main suppliers of vegetable product imports to Peru, together accounting for 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +77.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), China ($X) and Spain ($X) constituted the largest vegetable product suppliers to Peru, with a combined 84% share of total imports.

In terms of the main suppliers, China, with a CAGR of +33.8%, saw 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 vegetable product import price stood at $X per ton in 2022, with an increase of 17% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+36.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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