Peru Agribusiness Report Q2 2010
Business Monitor International, March 2010, Pages: 63
Peru Agribusiness service provides proprietary medium term price forecasts for key commodities, including corn, wheat, rice, sugar, cocoa, coffee, soy and milk; in addition to newly-researched competitive intelligence on leading agribusiness producers, traders and suppliers; in-depth analysis of latest industry developments; and essential industry context on Peru's agribusiness service.
In 2009, the value of Peru's agricultural sector grew by an estimated 2.3% year-on-year (y-o-y) according to the ministry of agriculture. If confirmed, this will have outpaced overall economic growth for the year which BMI estimates at 1.5% y-o-y. The output growth came despite a 6.0% y-o-y fall in the value of agricultural exports. Despite the full-year fall, exports picked up in the later months of the year which bodes well for 2010. Improving exports should see the value of Peru's agricultural sector grow by a higher rate than in 2009.
Peru's agricultural exports will be helped by the raft of free trade agreements (FTAs) currently coming into effect. The United States-Peru Trade Promotion Agreement came into effect in early 2009. This was followed by the FTA with China that came into force in March 2010. Other agreements are also on the drawing bored. In February 2010, Peru signed an FTA with the EU. The agreement is likely to come into force in 2012. Negotiations are also underway with Japan and Peru also hopes to strike a deal with South Korea. While there has been a large deal of concern about the potential damage lowering trade barriers will have on Peru's agricultural sector as it is exposed to imports from more developed producers, the agreements will undoubtedly give a boost to Peru's agricultural exports.
Peru's forecast rapid economic growth will also allow the government to make badly needed investments in improving infrastructure over the coming years. At present, poor infrastructure in much of the country means transport costs are very high. This should improve in the south of the country in the coming years as work on the Interoceanic Highway linking Atlantic ports in Brazil with Peru's Pacific ports is complete. The US$1.3bn highway was begun in 2005 and is expected to be complete by the end of 2010. The project will considerably improve access to ports for coffee growers close to the road, which splits into three branches covering much of southern Peru.
As the country recovers from the economic slowdown of 2009, investment in agriculture will gain pace. Both the government and private companies announced plans for investments in coffee production to realise the potential of Peru's high-quality certified coffee. Domestic coffee producers Secovasa, Cocla and Cepicafe will together invest US$25mn in 2010 to improve productivity, according to a Bloomberg report. The Ministry of Agriculture together with agricultural bank Agrobanco will add another US$20mn. These investments will see the pace of replanting Peru's coffee plantations increase. This should lead to both improved productivity and better quality output in the coming years. While certified coffee and cocoa are good export earners, the rise in per capita incomes in Peru over the forecast period will also drive demand for agricultural commodities at home. This will see strong growth in the country's staple grain and meat foods.
Executive Summary
SWOT Analysis
Peru Agricultural SWOT
Industry Forecast Scenario
Peru Livestock Outlook
Table: Peru Poultry Production
Table: Peru Pork Production
Table: Peru Beef & Veal Production, Consumption & Trade
Table: Peru Poultry Production
Table: Peru Pork Production
Table: Peru Beef & Veal Production, Consumption & Trade
Peru Dairy Outlook
Peru Dairy Outlook
Table: Peru Milk Production & Consumption
Table: Peru Butter Production, Consumption & Trade
Table: Peru Cheese Production, Consumption & Trade
Table: Peru Whole Milk Powder Production, Consumption & Trade
Table: Peru Milk Production & Consumption
Table: Peru Butter Production, Consumption & Trade
Table: Peru Cheese Production, Consumption & Trade
Table: Peru Whole Milk Powder Production, Consumption & Trade
Peru Sugar Outlook
Peru Sugar Production, Consumption & Trade
Table: Peru Sugar Production, Consumption & Trade
Peru Cocoa Outlook
Table: Peru Cocoa Production & Consumption
Table: Peru Cocoa Production & Consumption
Peru Coffee Outlook
Table: Peru Coffee Production
Table: Peru Coffee Production
Peru Grains Outlook
Table: Peru Wheat Production, Consumption & Trade
Table: Peru Corn Production, Consumption & Trade
Table: Peru Barley Production, Consumption & Trade
Table: Peru Wheat Production, Consumption & Trade
Table: Peru Corn Production, Consumption & Trade
Table: Peru Barley Production, Consumption & Trade
Industry Business Environment Overview
Global Agribusiness Business Environment Ratings
Global Agribusiness Business Environment Ratings
Competitive Landscape
Table: Agricultural Commodity Producers & Traders
Table: Agribusiness Suppliers
Table: Integrated Agricultural Producers
Commodity Price Analysis
Grains Update
Corn
Table: Corn
Rice
Table: Rice
Soy
Table: Soybean
Wheat
Table: Wheat
Softs Update
Cocoa
Table: Cocoa
Coffee
Table: Coffee
Milk
Table: Milk
Sugar
Table: Sugar
Downstream Supply Chain Analysis
Economic Outlook –
Risks To Outlook
Industry Trend Analysis
Global Industry View
BMI Softs and Grains Forecasts
BMI Forecast Modelling
How We Generate Our Industry Forecasts
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