Sea Urchin Decline, Coffee Export Boom, and Paprika Market Shifts
From Declining Sea Urchin Sales to Expanding Coffee and Paprika Markets, Peru Faces a Year of Shifting Dynamics...
Today’s insights:
1. Peru’s Fresh Sea Urchin Market Drops by 32% in 2024
Let’s dive into the recent figures for Peru exprts of fresh sea urchins (HS 030821). It looks like there's been a bit of a downturn this year. From January to July, export values dropped from $4.40M in 2023 down to $2.98M in 2024, marking a notable decline of 32%.
Here's the Top Exporters:
1. Geminis & Manu E.I.R.L.
2. Oceans Fish Company S.A.C. - Ofc S.A.C.
3. Lamcor Corporacion S.A.C. - Lamcor S.A.C.
4. Milan Trade Sa
5. Corporacion Internacional Manex S.A.C.
Fresh sea urchins (HS 030821) are a real treat in many parts of the world, especially popular in Japanese sushi bars, fancy Mediterranean dishes, and even some ritzy American spots.
2. Peru’s Coffee Export Boom: 41% Growth in 2024 as New Markets Open
In the period from January to July, Peru's green coffee bean (HS 090111) exports experienced a significant surge. Overall exports increased from $317.31M in 2023 to $446.57M in 2024, marking a 41% growth. This growth reflects a strong global demand for Peruvian coffee, renowned for its unique flavors and high quality.
Top Exporters in Peru (Jan-Aug 2024):
1. Perales Huancaruna SAC | $60.71M
2. Olam Agro Perú S.A.C. | $54.74M
3. Comercio Amazonia S.A. | $37.47M
4. HVC Exportaciones Sac | : $.75M
5. Compañía Internacional Del Cafe Sociedad | $17.42M
6. NEGRISA S.A.C. | $14.28M
7. Exportadora Romex S.A. | $10.90M
8. ED&F Man Commodities Volcafe Peru S.A. | $9.81M
9. A&V Cafe S.A.C. | $8.14M
10. Finca Churupampa Peru S.A.C. | $7.84M
New Markets:
Dominican Republic and Saudi Arabia emerged as new importers of Peruvian green coffee beans in 2024, highlighting the expansion of Peru's coffee into new geographic regions.
3. Peru’s Paprika Market Shrinks by 8% in 2024: Key Exporters Drive Expansion into Spain, Japan, and Beyond
Top Exporting Companies of Paprika in 2024:
1. Agroindustrial E&C S.A.C.: $15.10M
2. Adb International S.A.C.: $14.21M
3. S&M FOODS SAC: $12.47M
4. Agroexportadora Sol de Olmos SAC: $7.79M
5. Alimentos Procesados Agricolas S.A.C.: $6.29M
6. Arbayaza Export SAC - Arbay: $6.18M
7. CORPORACIÓN AGRÍCOLA PERUNOR S.A.C: $3.35M
8. Peruvian Organic Lands S.A.C.: $3.19M
9. PERUVIAN CAPSICUM EXPORTERS SAC: $3.11M
10. Monha Service Sac: $2.36M
In the January to August timeframe of 2023 and 2024, Peru's exports of whole dried paprika (HS 090421) experienced an overall decline of 8%, moving from $92.1M to $84.65M. This shift highlights some variability in global demand and market dynamics for this essential spice used in various cuisines around the world.
New Markets Entry: The year 2024 saw Peru reaching into new markets including ElSalvador, Argentina, Honduras, Australia, HongKong, Japan, United Arab Emirates, and Aruba, indicating a strategic push to diversify export destinations amid a shrinking primary market.
Despite notable reductions in major markets like the United States, which saw nearly a 29% drop, growth in Spain and the entrance into new markets suggest shifts in consumer preferences and competitive landscapes.
4. $2.3M in Imports with Safety Gloves Leading the Charge
In the first quarter of 2024, Peru imported $2.3 million in leather garments and accessories (HS4203), with safety gloves for industrial use leading as the most imported product.
The key importers were:
1. Clute Peru - $322,502
2. Vicsa Safety Perú - $248,386
3. Renzo Costa - $212,801
4. Gabuteau - $189,896
5. SOLTRAK - $154,548
6. INVERMODA SAC - $133,370
7. Falabella Perú - $93,688
8. Grupo Yes SAC - $88,839
9. ASTARA GROUP S.A.C. - $78,096
10. Piechi Peru S.A.C. - $65,708
That’s all for today…
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