Semi-milled or wholly milled rice market in Peru

Earlier Report Observations

The market for semi-milled or wholly milled rice in Peru opened the period at 2 621 thousand tonnes in 2018, supported by sustained growth in domestic production driven by expanded planting areas in key regions like Lambayeque and San Martín, alongside modernization of milling infrastructure. However, volume contracted to 2 362 thousand tonnes in 2019 as high production costs and inefficient water use limited profitability and output. A recovery followed in 2020, with the market reaching 2 539 thousand tonnes, as the trend of rising production and consumption continued, aided by technological upgrades in the rice agri-industry.

Market volume peaked at 2 574 thousand tonnes in 2021, fueled by increased domestic demand for fortified and higher-quality rice, coupled with favorable economic conditions including labor availability. Subsequent regulatory developments, such as the modification of homologation requirements for fortified rice and the approval of specific seed regulations in 2022, began shaping the market framework, though total volume declined to 2 368 thousand tonnes that year. By 2023, the market stabilized at 2 357 thousand tonnes, with climatic challenges and water scarcity affecting production, coinciding with the enactment of Law No. 31348 mandating rice enrichment to combat malnutrition.

In 2024, the Peruvian government approved Supreme Decree No. 008-2024-SA, which regulates the implementation of Law No. 31348 on rice enrichment, establishing a one-year period for producers and public entities to comply.

Production semi-milled or wholly milled rice in Peru

In kind, 2017-2020, K t

Peru was among the world's leading producers of semi-milled or wholly milled rice from 2017 to 2020, ranking 17th globally by production volume.

Top producers of semi-milled or wholly milled rice, 2017-2020

World map of production of semi-milled or wholly milled rice, 2017-2020

In 2020, Peru produced 2 268 thousand tons of semi-milled or wholly milled rice, representing a 7.7% increase compared to the previous year. Over the period from 2017 to 2020, production grew by 10.3%, which translates to an average annual growth rate of 3.3%. The highest production level was recorded in 2018 at 2 350 thousand tons, marking a significant 14.3% increase. However, in 2019, production experienced its largest decline of 10.4%.

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

Exports semi-milled or wholly milled rice from Peru

Exports in kind, K t

Peru's exports of semi-milled or wholly milled rice have increased for the third consecutive year. In 2020, the country exported 44.8 thousand tons, showing a robust 20.8% growth compared to 2019. From 2017 to 2020, exports surged by 25 129.3%, with a compound annual growth rate of 531.9%.

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

Between 2017 and 2020, Colombia remained the overwhelmingly dominant buyer of semi-milled or wholly milled rice from Peru, accounting for 99.0% of total exports in volume terms.

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

Peru's exports of semi-milled or wholly milled rice have grown for the third year in a row. In 2020, export value reached 30.0 million US dollars, up by 44.2% compared to 2019. Over the 2017-2020 period, exports increased by 16 141.3%, with a compound annual growth rate of 445.6%.

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

From 2017 to 2020, virtually all exports in value terms of semi-milled or wholly milled rice from Peru were associated with Colombia, whose share reached 98.5% 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 semi-milled or wholly milled rice to Peru

Imports in kind, K t

Peru's imports of semi-milled or wholly milled rice have increased for the second consecutive year. In 2020, the country imported 315.6 thousand tons, indicating a 7.8% year-over-year gain. However, over the 2017-2020 period, imports decreased by 21.4%, with a compound annual growth rate of -7.7%. The lowest import volume was recorded in 2018 at 271.5 thousand tons, which represented the largest decline of 32.4%. In contrast, 2019 saw the largest increase of 7.8%.

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

Throughout 2017-2020, the import structure in volume terms was primarily shaped by Uruguay and Brazil, which together accounted for 89.2% of total flows, while other markets formed a long tail.

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

Peru's imports of semi-milled or wholly milled rice have risen for the second year in a row. In 2020, imports totaled 181.1 million US dollars, up by 8.7% over the previous year. Between 2017 and 2020, however, imports decreased by 21.9%, equating to an annualized decline of 7.9%. The lowest value was recorded in 2018 at 160.4 million US dollars, marking the largest decline of 30.9%.

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

From 2017 to 2020, Uruguay and Brazil clearly dominated imports in value terms of semi-milled or wholly milled rice to Peru, jointly accounting for 90.6% of total flows, whereas other countries held much smaller shares.

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

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