Asparagus market in Peru

Earlier Report Observations

Between 2018 and 2019, the Peruvian fresh asparagus market remained around 227-223 thousand tons. This stability occurred amid intense competition with Mexico for the U.S. market, where Peru temporarily regained its position as the leading exporter. The requirement for methyl bromide fumigation for shipments to the United States added cost and limited competitiveness.

Market volume grew to 244 thousand tons in 2020, supported by increased production. In subsequent years, several key factors influenced the market. Droughts and climate anomalies in major producing regions during 2022 drove international asparagus prices up by 40%, encouraging Peruvian growers to increase output despite temporary disruptions from social protests in Ica and La Libertad. By 2023, growing global demand for healthy, plant-based foods boosted domestic consumption, while the elimination of the mandatory methyl bromide fumigation requirement for U.S. exports improved market access prospects. Consequently, the market expanded to 259 thousand tons.

Production asparagus in Peru

In kind, 2017-2020, K t

From 2017 to 2020, Peru maintained its position as the world's second-largest producer of asparagus by volume.

Top producers of asparagus, 2017-2020

World map of production of asparagus, 2017-2020

Following a two-year decline, Peru's asparagus production rebounded. In 2020, the country produced 369.4 thousand tons of asparagus, representing a year-over-year increase of 3.5%. Over the 2017-2020 period, overall production decreased by 3.6%, with a compound annual growth rate of 1.2%. The lowest production volume was recorded in 2019 at 356.8 thousand tons, while the sharpest decline occurred in 2018 with a 5.9% drop.

Annual dynamics of production in Peru in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Peru's asparagus production value increased for the second consecutive year. In 2020, the output was valued at 1 111 million US dollars, showing a modest year-over-year rise of 4.2%. Between 2017 and 2020, however, production value decreased by 18.3%, equivalent to an annualized decline of 6.5%. The lowest value was recorded in 2018 at 1 041 million US dollars, which also saw the most significant drop of 23.5%.

Annual dynamics of production in Peru in value, 2017-2020, M $ US

Exports asparagus from Peru

Exports in kind, K t

After two years of growth, Peru's asparagus exports declined. In 2020, exports reached 125.4 thousand tons, marking a 6.3% decrease compared to 2019. Over the 2017-2020 period, exports increased by 8.6%, with an annualized growth rate of 2.8%. The peak export volume was recorded in 2019 at 133.9 thousand tons, while the largest increase occurred in 2018 with a 15.1% rise.

Annual dynamics of product's exports from Peru in kind, 2017-2020, K t

From 2017 to 2020, the United States continued to be the primary destination for Peru's asparagus exports in volume terms, accounting for 70.9% of total exports, with the remainder distributed among numerous other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Peru in kind, 2017-2020

Exports in value, M $ US

In 2020, Peru's asparagus exports were valued at 377.1 million US dollars, reflecting a slight decrease of 5.7% compared to 2019. Over the 2017-2020 period, export value declined by 8%, with a compound annual growth rate of 2.7%. The most substantial drop occurred in 2018 with a 6.4% decrease, while the largest increase was recorded in 2019 with a 4.2% rise.

Annual dynamics of product's exports from Peru in value, 2017-2020, M $ US

Throughout 2017-2020, the United States (63.6% of export value), the United Kingdom (10.2%), and the Netherlands (9.7%) remained the key markets for Peru's asparagus exports in value terms, collectively representing 83.5% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Peru in value, 2017-2020

Imports asparagus to Peru

The sector overview indicates that Peru did not import any asparagus between 2017 and 2020.