The global trend towards a healthier diet has favoured the demand for asparagus, so this crop has a positive growth perspective. However, Peruvian exporters have encountered numerous productive and commercial obstacles. After a period of growth and attractive prices, things got complicated in 2022. Prices were low and international competition intensified, which made it difficult to place the Peruvian product in key markets, such as North America and Europe.
In 2023 things changed as the world supply was limited, including Peruvian supply, due to the El Niño phenomenon. This led to a price increase and a favourable year for Peruvian asparagus producers. However, the constant threat of Mexican production, with its easy access to the North American market, and China's ability to meet large international demands put Peru's position in the global market at risk.
In 2024, Peruvian production continues to be affected by the adversities of the previous year, with an up to 20% decrease in yields per hectare and a decrease in producers. So far, Peru has exported 20,648 tons for $81 million, i.e. 22% less volume and 5% less value. However, the average price has increased by 22%, partially offsetting the decrease in volume.
The United States continues to be the biggest buyer of asparagus, and Mexico is its largest supplier. However, Peru retains an important influence in this market. Peruvian asparagus continues to be better valued than the Mexican ones, as is reflected by their higher average price. Meanwhile, in Europe, prices have experienced strong upward pressure due to volume shortages, offering opportunities for other producers such as Greece and Italy to stand out thanks to their product quality.
Forecasts indicate a possible improvement towards the end of 2024. According to Fresh Fruit, asparagus exports will fall by 18% in volume and 4% in value this year as the climate improves and demand develops adequately. The challenge for Peruvian producers is to meet volume demand and offer a competitive-quality product in the international market.
Source: Fresh Fruit / agraria.pe