Market research

Soybeans market in Peru

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The soybean market in Peru expanded from 311.6 thousand tons in 2018 to 380.6 thousand tons in 2019. This growth was driven by the Agricultural Promotion Law, which encouraged private investment and improved the competitiveness of the agricultural sector, alongside strong external demand for Peruvian food products due to fiscal stimulus in the United States.

Market volume then declined to 301.4 thousand tons in 2020 and further to 272.8 thousand tons in 2021, before a slight recovery to 293.8 thousand tons in 2022.

In 2023, the market contracted sharply to 230.2 thousand tons. This drop coincided with adverse weather events, including Cyclone Yaku and the Coastal El Niño, which damaged soybean crops and likely affected supply chains and demand. At the same time, growing consumer preference for agroecological products began reshaping market dynamics. Domestic soybean production increased to 2.7 thousand tons, but this did not offset the reduction in imports.

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/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Peru, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Peru by countries, 2018-2024, $ US/t
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/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Peru, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Peru by countries, 2018-2024, $ US/t
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/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Peru, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Peru by countries, 2018-2024, $ US/t
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/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Peru, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Peru by countries, 2018-2024, $ US/t
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 soybeans in Peru

In kind, 2017-2020, t

Top producers of soybeans, 2017-2020

Source: SHEV.io

World map of production of soybeans, 2017-2020

Source: SHEV.io

Peru's soybean production rebounded in 2020 after a two-year decline. The country produced 1,534 tonnes of soybeans that year, marking a moderate 4.0% increase from 2019. Looking at the broader 2017-2020 period, production fell by 3%, with an average annual decline of 1.0%. The lowest production level was recorded in 2019 at 1,475 tonnes, which saw the largest year-on-year decrease of 3.5%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(3.3%)	(3.5%)	4.0%	(1.0%)

Source: SHEV.io

Exports soybeans from Peru

Exports in kind, K t

Peru's soybean exports reached 0.0 thousand tonnes in 2020, representing a 17.0% decline from the previous year. Over the 2017-2020 period, exports decreased by 15%, equivalent to an average annual decline of 5.3%. The highest export volume was recorded in 2019 at 0.0 thousand tonnes, which also saw the largest year-on-year increase of 9.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(6.6%)	9.8%	(17.0%)	(5.3%)

Source: SHEV.io

Between 2017 and 2020, the United States and Chile accounted for the majority of Peru's soybean exports by volume, while other markets played a less significant role.

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 data shows irregular changes, indicating a volatile market environment. Import levels fluctuated 2.5 times between the peak in 2017 and the low in 2018. In 2020, Peru's soybean exports totaled 0.0 million US dollars, reflecting a sharp 25.4% increase compared to 2019. The lowest value was recorded in 2018 at 0.0 million US dollars, which saw the largest year-on-year decline of 59.2%. The largest increase occurred in 2019 with an 87.1% rise.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(59.2%)	87.1%	25.4%	(1.5%)

Source: SHEV.io

From 2017 to 2020, Peru's soybean exports by value were primarily directed toward the United States and Chile, which together accounted for 83.1% of total flows, with other destinations playing a secondary role.

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 soybeans to Peru

Imports in kind, K t

Peru imported 0.0 thousand tonnes of soybeans in 2020, a 20.9% decrease from the previous year. Over the 2017-2020 period, imports fell by 6.4%, equivalent to an average annual decline of 2.2%. The highest import volume was recorded in 2019 at 379.1 thousand tonnes, which also saw the largest year-on-year increase of 22.3%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(3.2%)	22.3%	(20.9%)	(2.2%)

Source: SHEV.io

Between 2017 and 2020, the United States was the dominant source for Peru's soybean imports by volume, accounting for 73.1% of total flows, while other countries together made up the remaining share.

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's soybean imports amounted to 121.3 million US dollars, reflecting a robust 14.9% year-over-year decline. Over the 2017-2020 period, imports decreased by 5.8%, with an average annual decline of 2.0%. The highest import value was recorded in 2019 at 142.6 million US dollars, which saw the largest year-on-year increase of 16.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(4.8%)	16.4%	(14.9%)	(2.0%)

Source: SHEV.io

From 2017 to 2020, the United States concentrated most of Peru's soybean imports by value, accounting for 72.6% of total flows, with a fragmented group of other markets making up the remainder.

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