Peru Agribusiness Sector
Growing agricultural exports from Peru demand technological and innovative solutions, an opportunity for U.S. agricultural technology suppliers.
Peru’s economy has registered sustained high growth and low inflation for the past decade. Agriculture is a primary industry sector with an average annual growth of 14.3%. Over the past 20 years, agricultural exports have grown from $643 million in 2000 to $7 billion by 2019 more than 1000%.
Peru is the largest exporter of blueberries in the world and the second largest exporter of asparagus and avocados - products that grow primarily on the coast along with grapes, pomegranates and artichokes. The Andean region produces a variety of “super grains” including quinoa, kiwicha, and cañihua, among others, which are increasingly popular due to their high protein content and their nutritional qualities. Peru also grows fava beans, many varieties of corn, and over 2,000 varieties of potatoes. These products could benefit from the implementation of innovative products and services that increase productivity.
The United States remains the largest agricultural product supplier to Peru, accounting for 21 percent of market share. This strength is further impetus to of demand for U.S. imports of irrigation systems, machinery, agrochemicals and other technology.
The fertilizer sector is particularly lucrative and, despite the number of regional competitors in fertilizers and bio stimulant products, there is still room for U.S. products. Small and medium-sized farms in Peru are following the example of the large companies by importing high-tech machinery to improve quality and production capacity.
The U.S.- Peru Trade Promotion Agreement, entered into force in 2009 offers U.S. exporters advantages. Bilateral trade of agricultural products has increased from $1.46 billion in 2009 to $3.83 billion in 2019. More than two-thirds of current U.S. agricultural exports enter Peru duty-free.
Peru’s National Agrarian Health Service (SENASA), reports that importation of fertilizers or organic fertilizers does not require registration or an approval process. However, importation of phytosanitary products, such as pesticides and fungicides requires a product registration process. The only cases in which the importation and marketing of fertilizer products would be regulated by SENASA would be in cases where the fertilizer contains growth-regulating hormones, especially of a synthetic origin. To learn more about regulations: https://www.senasa.gob.pe/senasa/
For more information on Peru’s agriculture sector please contact Commercial Assistant Laura Villanueva: Laura.Villanueva@trade.gov