Wheat and meslin flour and cereals market in Peru

Earlier Report Observations

The Peruvian market for wheat and meslin flour and cereals showed considerable variation in volume between 2018 and 2023. Starting at 1.3 million tons, consumption dipped modestly to 1.27 million tons in 2019 before rising sharply to 1.48 million tons in 2020. After a correction to 1.34 million tons in 2021, the market expanded strongly to reach 1.67 million tons in 2022, then settled at 1.63 million tons in 2023.

The notable growth in 2020 was driven by shifts in consumer behavior and supply chains during the COVID-19 pandemic, which increased demand for basic staples like flour. In 2022, the Russia-Ukraine conflict disrupted global grain trade and pushed international wheat prices higher, contributing to food inflation that peaked at 27% in Peru. These conditions, alongside the country's reliance on imported wheat, encouraged greater domestic production, leading to the record market volume that year.

Production wheat and meslin flour and cereals in Peru

In kind, 2017-2020, K t

Top producers of wheat and meslin flour and cereals, 2017-2020

World map of production of wheat and meslin flour and cereals, 2017-2020

Following a two-year decline, wheat and meslin flour and cereals production in Peru rebounded. In 2020, Peru produced 1 482 K t of these products, representing a 16.5% increase compared to 2019. Over the period from 2017 to 2020, production grew by 12.4%, which translates to an annualized growth rate of 4.0%. The lowest production level was recorded in 2019 at 1 272 K t, with the largest decline of 2.2% also occurring that year.

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

In value, 2017-2020, M $ US

After two consecutive years of growth, wheat and meslin flour and cereals production in Peru experienced a downturn. In 2020, the output value stood at 637.1 M $ US, showing little change from 2019. From 2017 to 2020, production value increased by 7.5%, corresponding to an annualized rate of 2.5%. The peak value was reached in 2019 at 639.6 M $ US, which also saw the largest increase of 7.7%.

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

Exports wheat and meslin flour and cereals from Peru

Exports in kind, t

In 2020, Peru's foreign supplies of wheat and meslin flour and cereals totaled 1 972 t, marking a 31.5% year-over-year increase. Between 2017 and 2020, exports decreased by 28.4%, with an annualized decline rate of 10.5%. The lowest export volume was recorded in 2019 at 1 499 t, while the highest was in 2018 at 3 052 t. The most significant drop occurred in 2019, with a decline of 50.9%.

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

From 2017 to 2020, Chile, Bolivia, and Ecuador were the leading destinations for Peru's exports in kind, accounting for 94.1% of total flows. Chile and Bolivia each held 37.8% of exports, while Ecuador represented 18.5%.

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, K $ US

Peru exported 847 K $ US worth of wheat and meslin flour and cereals in 2020, showing a 12.4% improvement compared to the previous year. Over the 2017-2020 period, exports decreased by 31.5%, with an annualized decline rate of 11.8%. The lowest value was recorded in 2019 at 754 K $ US, and the highest in 2018 at 1 394 K $ US. The largest decline of 45.9% occurred in 2019, while the largest increase of 12.7% was in 2018.

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

Between 2017 and 2020, Bolivia, Chile, and Ecuador remained the top destinations for Peru's exports in value terms, collectively representing 90.3% of total flows. Bolivia accounted for 41.2% of exports, Chile for 33.1%, and Ecuador for 16.0%.

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

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

Imports wheat and meslin flour and cereals to Peru

Imports in kind, t

After a two-year decrease, wheat and meslin flour and cereals imports into Peru rose. In 2020, imports amounted to 3 709 t, up by 64.5% compared to the previous year. From 2017 to 2020, imports decreased by 31.1%, with an annualized decline rate of 11.7%. The lowest import volume was recorded in 2019 at 2 254 t, and the largest decline of 53.5% occurred in 2018.

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

Throughout 2017-2020, Mexico dominated Peru's imports in kind of wheat and meslin flour and cereals, capturing 86.2% of total flows. Other countries held significantly smaller shares.

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, K $ US

Wheat and meslin flour and cereals imports into Peru increased for the second consecutive year. In 2020, imports reached 2 284 K $ US, which is 49.8% higher than the previous year. Over the 2017-2020 period, imports decreased by 10.5%, with a compound annual growth rate of -3.6%. The lowest value was recorded in 2018 at 1 346 K $ US, and the largest decline of 47.3% also occurred that year.

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

From 2017 to 2020, Mexico was the primary supplier of wheat and meslin flour and cereals to Peru, accounting for 82.2% of total imports in value terms. Other partners had relatively modest shares.

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

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