Peru: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Peru

The Peruvian fish fat and oil market surged to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption enjoyed a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Fish Fats And Oils in Peru

In value terms, fish fat and oil production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Fish fat and oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Fish Fats And Oils

Exports from Peru

Fish fat and oil exports from Peru reduced remarkably to X tons in 2022, waning by X% compared with the previous year. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, fish fat and oil exports expanded markedly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Canada (X tons) and Chile (X tons) were the main destinations of fish fat and oil exports from Peru, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for fish fat and oil exported from Peru were China ($X), Canada ($X) and Chile ($X), with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fish fat and oil export price amounted to $X per ton, picking up by X% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into Peru

In 2022, supplies from abroad of fish fats and oils increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a strong increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, fish fat and oil imports soared to $X in 2022. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons) constituted the largest fish fat and oil supplier to Peru, with a X% share of total imports. Moreover, fish fat and oil imports from Chile exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), sevenfold. The third position in this ranking was held by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Turkey (X% per year).

In value terms, Chile ($X) constituted the largest supplier of fish fats and oils to Peru, comprising X% of total imports. The second position in the ranking was held by Ecuador ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the average fish fat and oil import price amounted to $X per ton, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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