Peas market in South America

Earlier Report Observations

The South American market for fresh or chilled peas contracted in 2019 before recovering to 211.0 thousand tons in 2020. This rebound was driven by a significant expansion of the planted area for peas in Argentina, which grew over 47% to capture rising international demand.

Market volume then stabilized around 211 thousand tons through 2022. During this period, Argentina officially opened pea exports to China, and trade tensions between China and Canada redirected global demand toward South American suppliers, leading to a historic 131% increase in Argentine exports in 2022.

In 2023, the market declined to 203.5 thousand tons. Industry reports pointed to a strong production rebound in the 2023/24 season and export volumes that multiplied tenfold, reaching one of the highest levels in two decades, which tightened domestic supply.

Production peas in South America

In kind, 2017-2020, K t

Top producers of peas, 2017-2020

World map of production of peas, 2017-2020

In 2020, South America produced 219.9 thousand tonnes of peas, marking a moderate increase of 7.8% compared to 2019. Over the period from 2017 to 2020, production grew by 9.7%, which translates to an annualized growth rate of 3.1%. The largest decline occurred in 2019, with a drop of 5.6%, while the largest increase was recorded in 2018 at 7.8%.

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

In value, 2017-2020, M $ US

After a two-year decline, pea production in South America rebounded. In 2020, the output was valued at 761.3 million US dollars, up by 8.6% from 2019. Between 2017 and 2020, production increased by 4.1%, equating to an annualized rate of 1.3%. The lowest value was recorded in 2019 at 700.8 million US dollars, and the largest decline occurred in 2018 with a decrease of 2.5%.

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

Exports peas from South America

Exports in kind, t

Pea exports from South America increased for the third consecutive year. In 2020, exports amounted to 8 969 tonnes, which is 3.0% higher than the previous year. From 2017 to 2020, exports grew by 69.5%, representing an annualized growth rate of 19.2%.

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

Between 2017 and 2020, the main destinations for pea exports from South America in terms of volume were the United States, accounting for 37.4% of exports, the United Kingdom at 34.0%, and the Netherlands with 21.7%. Together, these three countries represented 93.1% of total export flows.

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

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

Exports in value, K $ US

Pea shipments from South America to international markets increased for the third year in a row. In 2020, exports totaled 31 053 thousand US dollars, showing a gradual gain of 3.8% compared to the previous year. Over the 2017-2020 period, exports rose by 60.9%, with a compound annual growth rate of 17.2%.

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

From 2017 to 2020, the United Kingdom, the United States, and the Netherlands remained the primary markets for pea exports from South America in value terms. The United Kingdom accounted for 35.6% of exports, the United States for 33.3%, and the Netherlands for 23.2%, collectively representing 92.2% of total export flows.

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

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

Imports peas to South America

Imports in kind, t

The market for pea imports into South America experienced noticeable fluctuations during the period. Volumes peaked in 2017 and dropped to their lowest point in 2018, with a 5.9-fold difference between these years. In 2020, imports stood at 70 tonnes, representing a sharp decline of 78.0% compared to 2019. The lowest volume was recorded in 2018 at 59 tonnes, with the largest decline that year at 82.9%, while the largest increase occurred in 2019 with a rise of 435.6%.

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

In the 2017-2020 period, the leading sources for pea imports into South America in terms of volume were the United States, accounting for 45.5% of imports, Canada at 32.2%, and China with 14.5%. Together, these three countries made up 92.2% of total import flows.

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

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

Imports in value, K $ US

The market for pea imports into South America showed an unstable trend throughout the timeframe. The highest value was reached in 2017, while the lowest occurred in 2018, with a peak-to-trough ratio of 6.1 times. In 2020, imports amounted to 44 thousand US dollars, down by 78.2% compared to the previous year. The minimum value was recorded in 2018 at 40 thousand US dollars, with the largest decline that year at 83.7%, and the largest increase in 2019 with a rise of 396.1%.

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

From 2017 to 2020, the United States and Canada were the key sources for pea imports into South America in value terms, jointly accounting for 81.6% of total flows, while other partners contributed much less individually.

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

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