In this installment of the ‘Agronometrics In Charts’ series, Sarah Ilyas studies the state of the Peruvian asparagus season. Each week the series looks at a different horticultural commodity, focusing on a specific origin or topic visualizing the market factors that are driving change.

The global trend towards healthier diets has bolstered the demand for asparagus, positioning this crop for positive growth. However, Peruvian exporters have faced numerous productive and commercial challenges. Following a period of growth and attractive prices, complications arose in 2022. Prices dropped, and international competition intensified, complicating the placement of Peruvian asparagus in key markets such as North America and Europe.

Source: USDA Market News via Agronometrics.

(Agronometrics users can view this chart with live updates here)

In 2023, the situation changed due to the El Niño phenomenon, which limited global supply, including that of Peru, leading to increased prices and a favorable year for Peruvian asparagus producers. Nonetheless, the persistent threat of Mexican production, with its easy access to the North American market, and China's capacity to meet large international demands, jeopardizes Peru's position in the global market.

In 2024, Peruvian production continues to feel the impact of the previous year's adversities, with yields per hectare decreasing by up to 20% and a reduction in the number of producers. So far, Peru has exported 20,648 tons worth $81 million, reflecting a 22% decrease in volume and a 5% decrease in value. However, the average price has risen by 22%, partially offsetting the volume decline.

The United States remains the largest buyer of asparagus, with Mexico as its primary supplier. Nevertheless, Peru maintains significant influence in this market. Peruvian asparagus continues to be valued higher than Mexican asparagus, as evidenced by its higher average price. In Europe, prices have experienced strong upward pressure due to volume shortages, creating opportunities for other producers such as Greece and Italy to stand out with their product quality.

Source: USDA Market News via Agronometrics.

(Agronometrics users can view this chart with live updates here)

Source: USDA Market News via Agronometrics.

(Agronometrics users can view this chart with live updates here)

Forecasts suggest a potential improvement by the end of 2024. Asparagus exports are expected to decrease 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 demands while offering a competitively high-quality product in the international market.

In our ‘In Charts’ series, we work to tell some of the stories that are moving the industry. Feel free to take a look at the other articles by clicking here.

All pricing for domestic US produce represents the spot market at Shipping Point (i.e. packing house/climate controlled warehouse, etc.). For imported fruit, the pricing data represents the spot market at Port of Entry.

You can keep track of the markets daily through Agronometrics, a data visualization tool built to help the industry make sense of the huge amounts of data that professionals need to access to make informed decisions. If you found the information and the charts from this article useful, feel free to visit us at www.agronometrics.com where you can easily access these same graphs, or explore the other 21 commodities we currently track.