Superfood lovers will be happy to hear quinoa prices have started easing off after reaching a peak in 2014. In January, prices were down 16.13% year on year to £3.12/tonne, and they have since fallen to £2.78.

Quinoa is an ancient grain-type cereal that has been growing in popularity over the past few years in the US and Europe due to its perceived health benefits. It contains more protein than brown rice, potatoes or barley, is gluten free and packed with vitamins and minerals.

Bolivia and Peru produce over 95% of the world’s quinoa, and farmers have been making an effort to increase their acreage to cope with rising demand, but it can take up to a few years to establish new growing areas because the plant can only develop in certain conditions. As a result, supply remained constrained last year and quinoa prices shot upwards from £1.92 in January 2013 to £3.72 in January 2014.

However, efforts to boost production are starting to pay off and are bringing prices back down. In 2007, Peru harvested a little less than 33,000 hectares of quinoa, but in 2015 it is expected to harvest 55,000 hectares. In Bolivia, the harvest area has grown from just over 50,000 hectares to over 150,000 in the same period.

There has also been an increase in production from other countries, which have been encouraged to start growing quinoa by high prices. Canada has seen the most success, expanding acreage from just 1,530 acres in 2014 to an estimated 5,000 in 2015.

The current craze for quinoa began in 2008, when Oprah Winfrey included it in her ‘21 day cleanse diet’. Demand rocketed after the Food and Agriculture Organization (FAO) deemed 2013 International Year of Quinoa.

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