Maize flour and cereals market in Peru

Earlier Report Observations

The market volume for maize flour and cereals in Peru fluctuated between 2018 and 2023, peaking at 282 thousand tons in 2020 before gradually declining to 261 thousand tons by 2023.

The volume increase in 2020 was supported by a global rise in flour production driven by population growth and higher worldwide food demand, which boosted consumption and production levels in Peru during that period.

In value terms, the market grew from $349 million in 2018 to a high of $490 million in 2022, indicating higher prices or a shift toward more valuable products, before easing to $475 million in 2023.

Production maize flour and cereals in Peru

In kind, 2017-2020, K t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

In 2020, Peru produced 261.4 thousand tons of maize flour and cereals, marking a modest 4.6% increase compared to the previous year. Over the period from 2017 to 2020, production grew by 8.3%, which translates to an average annual growth rate of 2.7%. The highest production level was recorded in 2018 at 266.9 thousand tons. In 2019, production experienced its largest decline of 6.4%, while the most significant increase occurred in 2018 with a 10.6% rise.

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

In value, 2017-2020, M $ US

Following two consecutive years of decline, Peru's maize flour and cereals production rebounded in value terms. In 2020, the output was valued at 460.9 million US dollars, representing a substantial 32.2% increase over the previous year. From 2017 to 2020, production value grew by 4.1%, with a compound annual growth rate of 1.4%. The lowest value was recorded in 2019 at 348.5 million US dollars. The most significant decline occurred in 2018 with a 21.0% drop.

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

Exports maize flour and cereals from Peru

Exports in kind, t

After two years of growth, Peru's exports of maize flour and cereals in volume terms declined in 2020. Exports amounted to 1 346 tons, which is 16.6% lower than the previous year. Between 2017 and 2020, exports increased by 15.1%, corresponding to an average annual growth rate of 4.8%. The peak export volume was recorded in 2019 at 1 615 tons, which also saw the largest increase of 29.1%.

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

From 2017 to 2020, Ecuador, the United States, and Chile were consistently the main markets for Peru's maize flour and cereals exports in volume terms. Ecuador accounted for 61.3% of exports, followed by the United States at 8.2% and Chile at 7.4%. Together, these three countries represented 76.9% of Peru's total export flows.

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, K $ US

Peru's maize flour and cereals exports in value terms increased for the second consecutive year in 2020. Exports reached 2 373 thousand US dollars, showing a 5.4% year-over-year growth. Over the 2017-2020 period, exports grew by 10.7%, with a compound annual growth rate of 3.4%. The lowest value was recorded in 2018 at 1 639 thousand US dollars, which also experienced the largest decline of 23.6%. The most significant increase occurred in 2019 with a 37.4% rise.

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

Between 2017 and 2020, three key markets—Ecuador, the United States, and Japan—collectively accounted for 56.7% of Peru's total maize flour and cereals exports in value terms.

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

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

Imports maize flour and cereals to Peru

Imports in kind, t

Peru's imports of maize flour and cereals in volume terms increased for the third consecutive year in 2020. Imports reached 21 814 tons, representing a dramatic 71.3% year-over-year surge. From 2017 to 2020, imports grew by an extraordinary 2 552.1%, equating to an average annual growth rate of 198.2%.

Annual dynamics of product's imports to Peru in kind, 2017-2020, t

Throughout the 2017-2020 period, Colombia, Venezuela, and Mexico formed the core of Peru's maize flour and cereals imports in volume terms. Colombia was the largest supplier with 57.6% of imports, followed by Venezuela at 19.7% and Mexico at 9.4%. Together, these three countries accounted for 86.6% of total import flows.

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

World map of product's imports to Peru in kind, 2017-2020

Imports in value, K $ US

Peru's imports of maize flour and cereals in value terms increased for the third consecutive year in 2020. Imports amounted to 18 840 thousand US dollars, marking a dramatic 65.3% rise compared to the previous year. Between 2017 and 2020, imports grew by 1 854.7%, corresponding to an average annual growth rate of 169.4%.

Annual dynamics of product's imports to Peru in value, 2017-2020, K $ US

From 2017 to 2020, Colombia, Venezuela, and Mexico were the largest suppliers of maize flour and cereals to Peru in value terms. Colombia accounted for 59.8% of imports, Venezuela for 17.9%, and Mexico for 10.4%. Collectively, these three countries represented 88.0% of Peru's total import value.

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

World map of product's imports to Peru in value, 2017-2020