Peru: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Peru

The Peruvian wheat and meslin flour market declined modestly to $X in 2022, falling by -2.1% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 7.2% against the previous year. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Wheat and Meslin Flour in Peru

In value terms, wheat and meslin flour production declined slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 11% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Wheat and Meslin Flour

Exports from Peru

After two years of growth, overseas shipments of wheat and meslin flour decreased by -18.8% to X tons in 2022. In general, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2013 with an increase of 178% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, wheat and meslin flour exports reduced dramatically to $X in 2022. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 192% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for wheat and meslin flour exports from Peru, accounting for a 63% share of total exports. Moreover, wheat and meslin flour exports to Ecuador exceeded the volume sent to the second major destination, Colombia (X tons), fourfold. Bolivia (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador totaled +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+12.0% per year) and Bolivia (+15.3% per year).

In value terms, the largest markets for wheat and meslin flour exported from Peru were Ecuador ($X), Colombia ($X) and Bolivia ($X), together comprising 92% of total exports.

Ecuador, with a CAGR of +17.3%, 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 more modest paces of growth.

Export Prices by Country

The average wheat and meslin flour export price stood at $X per ton in 2022, waning by -4.3% against the previous year. Overall, the export price showed a slight downturn. The pace of growth was the most pronounced in 2019 an increase of 10% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Panama ($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 Chile (+0.6%), while the prices for the other major destinations experienced a decline.

Imports of Wheat and Meslin Flour

Imports into Peru

In 2022, overseas purchases of wheat and meslin flour decreased by -23.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 594%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wheat and meslin flour imports declined sharply to $X in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 792% against the previous year. Imports peaked at $X in 2021, and then fell rapidly in the following year.

Imports by Country

Chile (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of wheat and meslin flour imports to Peru, together accounting for 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +120.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of wheat and meslin flour to Peru, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 31% share of total imports. It was followed by Italy, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at +98.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+19.1% per year) and Italy (+23.6% per year).

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, picking up by 6.5% against the previous year. In general, the import price saw a buoyant increase. The pace of growth was the most pronounced in 2019 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Argentina ($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 (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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