Market research

Soybean oil and fractions market in Peru

$Soybean oil and fractions market in Peru$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

Peru's market for soybean oil is overwhelmingly import-dependent, with annual imports ranging from 470 to 591 thousand tons between 2018 and 2023, while domestic production remained negligible at under 2 thousand tons. The total market volume, closely tracking imports, peaked at 592 thousand tons in 2021.

Following the 2021 peak, the market volume contracted sharply by 20% to 471 thousand tons in 2022, before recovering to 536 thousand tons in 2023. These swings were primarily driven by corresponding fluctuations in import supplies.

In 2024, imports of soybean oil into Peru increased to 560 thousand tons. This growth occurred amid global market conditions where reduced palm oil output in Malaysia and Indonesia raised worldwide demand for soybean oil, and U.S. policies promoting sustainable biofuels indirectly influenced trade flows and prices.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Peru
  1. 5.1.1. Annual dynamics of production in Peru in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Peru in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Peru in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Peru by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Peru in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Peru by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Peru, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Peru by countries, 2018-2024, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Peru in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Peru by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Peru in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Peru by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Peru, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Peru by countries, 2018-2024, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Peru in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Peru by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Peru in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Peru by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Peru, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Peru by countries, 2018-2024, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Peru in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Peru by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Peru in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Peru by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Peru, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Peru by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oil and fractions in Peru

In kind, 2017-2020, t

Top producers of soybean oil and fractions, 2017-2020

Source: SHEV.io

World map of production of soybean oil and fractions, 2017-2020

Source: SHEV.io

Peru's production of soybean oil and fractions has increased for the second year in a row. In 2020, the country produced 1,561 tonnes, marking a modest 4.6% rise compared to 2019. Looking at the period from 2017 to 2020, production grew by 10.5%, which translates to an average annual growth rate of 3.4%. The lowest production level was recorded in 2018 at 1,405 tonnes, with the largest decline that year at 0.5%. In contrast, 2019 saw the most significant increase at 6.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(0.5%)	6.2%	4.6%	3.4%

Source: SHEV.io

Exports soybean oil and fractions from Peru

Exports in kind, K t

The market showed an unstable trend throughout the period. Between 2019 and 2020, there was a dramatic peak-to-trough amplitude of 19,668 times. In 2020, Peru's exports of soybean oil and fractions amounted to 0.0 thousand tonnes, representing a 100.0% decrease year-over-year. The highest export volume was in 2019 at 0.2 thousand tonnes, which also saw the largest increase at 93,978.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(52.7%)	93 978.4%	(100.0%)	(71.7%)

Source: SHEV.io

From 2017 to 2020, the export partner base for soybean oil and fractions in kind was extremely narrow, with Ecuador accounting for 99.7% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

The market exhibited volatility over the observed period. There was a 565-fold variation between the peak in 2019 and the trough in 2020. In 2020, Peru exported 0.0 million US dollars worth of soybean oil and fractions, a 99.8% reduction compared to the previous year. The maximum value was recorded in 2019 at 0.2 million US dollars, with the largest increase that year at 54,235.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(94.2%)	54 235.6%	(99.8%)	(61.9%)

Source: SHEV.io

During 2017–2020, the structure of exports in value terms was dominated by a single market: Ecuador, which held a 96.6% share of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oil and fractions to Peru

Imports in kind, K t

After two years of growth, Peru's imports of soybean oil and fractions declined. In 2020, the country imported 540.1 thousand tonnes, which is 3.6% less than in 2019. Over the period from 2017 to 2020, imports increased by 16%, with a compound annual growth rate of 5.1%. The highest import volume was in 2019 at 540.1 thousand tonnes, while the largest increase occurred in 2018 at 12.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	12.2%	7.3%	(3.6%)	5.1%

Source: SHEV.io

From 2017 to 2020, Argentina was the dominant source for imports in kind, accounting for 80.0% of total flows, with a fragmented group of other markets making up the remainder.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

In 2020, Peru imported 415.0 million US dollars worth of soybean oil and fractions, showing a 7.4% advance compared to the previous year. Between 2017 and 2020, imports increased by 11.6%, equating to an annualized growth rate of 3.7%. The largest decline was recorded in 2019 at 2.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	6.7%	(2.6%)	7.4%	3.7%

Source: SHEV.io

Throughout 2017–2020, Argentina was the main supplier of soybean oil and fractions to Peru in value terms, taking 78.2% of total imports, while other partners had relatively modest shares.

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

Source: SHEV.io

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

Source: SHEV.io