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Price

Since the early 21st century when quinoa became more commonly consumed in North America, Europe, and Australasia where it was not typically grown, the crop value increased. Between 2006 and 2013, quinoa crop prices tripled. In 2011, the average price was US$3,115 per tonne with some varieties selling as high as $8,000 per tonne. This compares with wheat prices of about US$340 per tonne, making wheat about 10% of the value of quinoa. The resulting effect on traditional production regions in Peru and Bolivia also influenced new commercial quinoa production elsewhere in the world, such as the United States. By 2013, quinoa was being cultivated in some 70 countries. As a result of expanding production outside the Andean highlands native for quinoa, the price plummeted starting in early 2015 and remained low for years. From 2018 to 2019, quinoa production in Peru declined by 22%. Some refer to this as the "quinoa bust" because of the devastation the price fall caused for farmers and industry.