Peru: Rice Market 2024

Rice Market Size in Peru

The Peruvian rice market totaled $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Rice Production in Peru

In value terms, rice production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Rice production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

The average yield of rice in Peru dropped modestly to X tons per ha in 2023, remaining constant against 2022. In general, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the average rice yield attained the maximum level at X tons per ha in 2022, and then contracted modestly 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 2023, the harvested area of rice in Peru reached X ha, approximately equating the previous year. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The rice harvested area peaked at X ha in 2018; however, from 2019 to 2023, the harvested area remained at a lower figure.

Rice Exports

Exports from Peru

After two years of decline, overseas shipments of rice increased by X% to X tons in 2023. Overall, exports, however, continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, rice exports skyrocketed to $X in 2023. Over the period under review, exports, however, saw a mild curtailment. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for rice exports from Peru, accounting for a X% share of total exports. It was followed by Chile (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Ecuador (X% per year).

In value terms, Colombia ($X) remains the key foreign market for rice exports from Peru, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2023, the average rice export price amounted to $X per ton, almost unchanged from the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Peru

After two years of decline, overseas purchases of rice increased by X% to X tons in 2023. In general, imports, however, recorded a pronounced slump. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, rice imports skyrocketed to $X in 2023. Overall, imports, however, continue to indicate a perceptible decrease. Imports peaked at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

Uruguay (X tons), Brazil (X tons) and Paraguay (X tons) were the main suppliers of rice imports to Peru, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Brazil (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest rice suppliers to Peru were Uruguay ($X), Brazil ($X) and Paraguay ($X), with a combined X% share of total imports.

Among the main suppliers, Brazil, with a CAGR of X%, 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 mixed trend patterns.

Import Prices by Country

In 2023, the average rice import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then reduced modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and Brazil ($X per ton), while the price for Thailand ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform