Peru Set To Overtake Chile In Agricultural Exports
(MENAFN- The Rio Times) Peru is catching up to Chile in agricultural exports, highlighting a significant shift. From 2012 to 2022, Chile only increased its agricultural export growth by 2.4%.
In contrast, Peru's exports surged by an impressive 10.1%. Experts now predict that by 2027, Peru's agricultural exports might exceed those of Chile.
By the end of 2022, data from the Peruvian Ministry of Agrarian Development and Irrigation (Midagri) reported that Chile's exports reached $10.664 billion.
Meanwhile, Peru set a new record with $7.557 billion in exports. Forecasts suggest that by 2027, Peru could export agricultural goods worth $12.210 billion, surpassing Chile's projected $12.009 billion.
Currently, the upward trend in Peruvia exports is evident. From January to May this year, their agricultural exports increased to $3.518 billion, a 0.2% rise from the previous year.
Notably, Peru has already surpassed Chile in exporting blueberries, avocados, and grapes.
A 2019 Chilean government report acknowledged Peru as a formidable competitor. It pointed out Peru's advancements in several key agricultural products.
In Chile, private ownership of water resources, even underground, has led to what some describe as unwise usage. This practice could be hindering Chile's agricultural expansion.
Despite these challenges, Chile remains a strong exporter of cherries, kiwis, plums, apples, blueberries, avocados, grapes, and asparagus.
However, Peru shows robust growth in exporting a wider array of products, including blueberries, avocados, grapes, citrus fruits, mangos, asparagus, olives, artichokes, garlic, coffee, cocoa, and bananas.
This development underscores the importance of strategic resource management and adapting to market changes to stay ahead in the global agricultural export race.
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