- In an interview with Bloomberg, Agriculture Minister, Angel Manero said that he is targeting $30bn in farm exports by 2040, primarily fruit, up from an estimated $12bn this year, with most of that growth coming from Asia. Manero noted that only 3% of Peru’s agricultural exports go to China currently, compared with 65% to the US and EU. He believes that the recent trade agreements with China, following President Xi’s visit last month, and the opening of the $1.3bn Chancay port will reduce travel times, making perishable goods more accessible to Asian markets.
- Manero also said that the government is planning irrigation projects that could double the country’s planted area and believes that the first auctions of those lands could come as soon as 2027. He also wants an extension of tax breaks for the country’s farmers, and says a bill to extend these through 2035 could be passed before the end of this year.
- Data wise, no macro data are due today, with the next event of note being the BCRP monetary policy meeting on Dec 12.
PERU: Government Targets Near Tripling Of Agricultural Exports
Last updated at:Dec-04 13:06By: Keith Gyles
Peru
- In an interview with Bloomberg, Agriculture Minister, Angel Manero said that he is targeting $30bn in farm exports by 2040, primarily fruit, up from an estimated $12bn this year, with most of that growth coming from Asia. Manero noted that only 3% of Peru’s agricultural exports go to China currently, compared with 65% to the US and EU. He believes that the recent trade agreements with China, following President Xi’s visit last month, and the opening of the $1.3bn Chancay port will reduce travel times, making perishable goods more accessible to Asian markets.
- Manero also said that the government is planning irrigation projects that could double the country’s planted area and believes that the first auctions of those lands could come as soon as 2027. He also wants an extension of tax breaks for the country’s farmers, and says a bill to extend these through 2035 could be passed before the end of this year.
- Data wise, no macro data are due today, with the next event of note being the BCRP monetary policy meeting on Dec 12.
