Updated Jan 10, 2023 20:50

Buckwheat Market in Peru

Market Overview
In , the Peruvian buckwheat market increased by % to $ for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a noticeable increase. Buckwheat consumption peaked at $ in 2013; however, from 2014 to , consumption remained at a lower figure.

In value terms, buckwheat production shrank slightly to $ in estimated in export price. Overall, the total production indicated notable growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The most prominent rate of growth was recorded in 2008 with an increase of %. Buckwheat production peaked at $ in 2014; however, from 2015 to , production stood at a somewhat lower figure.


Consumption
In , consumption of buckwheat was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, consumption attained the peak volume at tons in 2013; however, from 2014 to , consumption failed to regain momentum.

The size of the buckwheat market in Peru stood at $ in , approximately reflecting 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). In general, consumption enjoyed a temperate expansion. Over the period under review, the market attained the maximum level at $ in 2013; however, from 2014 to , consumption remained at a lower figure.


Market Forecast
The buckwheat market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, the share of imports in terms of total buckwheat consumption in Peru was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Peru buckwheat market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.


Trade Balance
Peru remains a net exporter of buckwheat; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $.