Peru: Peru Quinoa Price Fluctuation
Demand for quinoa by health conscious consumers in the United States, Canada and Western Europe has driven the price of this Andean grain up three-fold in recent years. Quinoa recently traded as high as $6,000-$7,000 per metric ton (MT). Expanded quinoa cultivation is raising overproduction concerns,raising the possibility of lower prices paid to producers. Quinoa prices fell around 40 percent between September 2014 and August 2015. Sources report that this decrease is due to overproduction. The 2014-15 drop in prices lowered producers’ household incomes by about five percent. Quinoa prices however have recently shown signs of recovery, returning to 2013 levels. Ministry of Agriculture and Irrigation sources estimate 2016 quinoa production coming in at about 108,000 MT, down some 14,000 MT from their earlier estimates. Exports in 2016 are estimated at 42 million MT, up six percent compared to 2015. Peru will export to the United States 55-60 percent of its production ($62 million) in 2016
