Maize market in Peru

Earlier Report Observations

The Peruvian maize market is characterized by a structural dependence on imports, which historically have covered over 60% of national demand, driven primarily by the poultry sector as the key consumer of yellow maize for animal feed. Market volume expanded to a peak of 5.6 million tons in 2019, supported by sustained poultry industry demand, but then contracted in 2020 due to pandemic-related disruptions in production and supply chains. The market stabilized around 5.2 million tons from 2021 to 2023, reflecting a balance between domestic output and import flows.

Domestic production faced persistent constraints, including a lack of certified seeds, financing, and technical assistance, which limited competitiveness. The national moratorium on cultivating genetically modified maize until 2035 further restricted producers' ability to improve yields and resilience against climate challenges. However, production saw intermittent growth, such as the 7.9% increase in yellow maize output in December 2022 and a 31.2% surge in February 2023, attributed to expanded harvested areas and favorable weather conditions, despite periodic setbacks from road blockades and input shortages.

Imports, mainly from Argentina, fluctuated in response to global price movements, adverse weather, and geopolitical pressures, while being facilitated by Peru's tariff-free import regime and the Price Band System that regulates market access. In 2024, import volume rose sharply to 4.2 million tons amid concerns over reduced planted area and market speculation, with the poultry sector's expanding broiler population continuing to underpin demand. Regulatory measures, including reference prices for imports and ongoing agrarian modernization efforts, shaped the trade environment throughout the period.

Production maize in Peru

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Peru's maize production declined for the second consecutive year. In 2020, Peru produced 1 448 K t of maize, showing a modest decline of 8.1% compared to the previous year. Between 2017 and 2020, production decreased by 4.9%, which equates to an annualized rate of 1.7%. The maximum production was recorded in 2018 at 1 577 K t, with the largest increase of 3.5% also occurring that year.

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

In value, 2017-2020, M $ US

Maize production in Peru declined for the second consecutive year. In 2020, the output of maize was valued at 3 206 M $ US, representing a notable fall of 10.2% from the previous year. The maximum value was recorded in 2018 at 3 626 M $ US, with the largest increase of 12.9% also occurring in that year.

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

Exports maize from Peru

Exports in kind, K t

After a two-year increase, maize shipments from Peru to abroad declined. In 2020, exports totalled 11 K t, corresponding to a modest drop of 7.4% year-over-year. Over the period from 2017 to 2020, exports increased by 13%, with a compound annual growth rate (CAGR) of 4.1%. The maximum value was recorded in 2019 at 11 K t, while the largest increase of 13.0% occurred in 2018.

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

Throughout 2017–2020, Spain, the United States, and Japan played the leading roles in Peru's maize exports in kind. Spain accounted for 49.3% of exports, the United States for 20.3%, and Japan for 12.8%, jointly taking 82.4% of total 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, M $ US

After a two-year increase, Peru's volume of maize exports declined. In 2020, exports amounted to 23.3 M $ US, showing a gradual fall of 9.6% compared to 2019. Between 2017 and 2020, exports increased by 18.6%, equating to an annualized rate of 5.9%. The maximum value was recorded in 2019 at 25.8 M $ US, with the largest increase of 23.4% occurring in 2018.

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

In 2017–2020, Spain, the United States, and Japan accounted for the largest share of Peru's maize exports in value terms. Spain represented 39.4% of exports, the United States 22.8%, and Japan 11.6%, together comprising 73.8% of total 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 maize to Peru

Imports in kind, K t

After a two-year gain, Peru's maize imports declined. In 2020, imports came to 3 792 K t, marking a limited reduction of 5.4% compared to the previous year. Over the period from 2017 to 2020, imports increased by 12.2%, with a compound annual growth rate (CAGR) of 3.9%. The maximum value was recorded in 2019 at 4 010 K t, with the largest increase of 12.8% also occurring that year.

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

Throughout 2017–2020, the country structure of Peru's maize imports in kind was highly concentrated on the United States and Argentina, which jointly accounted for 99.3% of total 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, M $ US

After a two-year advance, imported maize volumes in Peru declined. In 2020, Peru imported maize valued at 796.5 M $ US, constituting a fall of 2.2% versus the previous year. Between 2017 and 2020, imports increased by 19.2%, equating to an annualized rate of 6.0%. The maximum value was recorded in 2019 at 796.5 M $ US, with the largest increase of 12.0% also occurring that year.

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

Throughout 2017–2020, two countries—the United States and Argentina—concentrated most of Peru's maize imports in value terms, while other markets were less significant individually.

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

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