Peruvian Agricultural Exports - China Has Big Room for Peruvian Agricultural Exports

Peruvian avocado exports have seen a fast growth in the first eight months of this year to surpass the export value of US $631 million recorded in 2017, which was partly due to a remarkable supply increase in countries such as Spain (up 14%) and the Netherlands (up 20%).

The avocado was also gaining a presence in Asian market, said Rogers Valencia, Peru’s Minister of Foreign Trade and Tourism. In the first eight months of 2018, the country’s avocado exports to China, Japan, and Hong Kong amounted to US $29 million, US $12 million and US $11 million, respectively, and Peru has become the third biggest supplier of avocados to China.

Peru’s exports of other agricultural products such as blueberries and prawns are also growing significantly every year, contributing increasingly more to the Latin American country’s economic growth. The nation’s blueberry exports topped 281 million dollars in value in 2017 and are expected to reach 800 million dollars in the 2019-2020 campaign, and 1 billion dollars in the 2020-2021 campaign, according to official data.

Edgar Vasquez, the Deputy Minister of Foreign Trade, said that the agricultural industry had been growing homogeneously with other sectors, such as the textiles-confection, metalworking, and chemicals and plastics sectors.

“More and more products from the food sector have a high growth potential in Asia, the United States, and Europe,” he said.

Growth Opportunities

The current trade war between the US and China would give Peru more opportunities to further expand its agricultural exports to China, the world’s biggest consumption market, especially as the country has been taking steps to open up its market to foreign merchants in efforts to consolidate and extend global cooperation with the rest of the world.

China has cut tariffs on consumer goods three times this year, lowering the general duties on imported goods from an average 9.8 percent to 7.5 percent.

The ever-increasing demand of Chinese domestic consumers for foreign quality products including food will also stimulate the continuous and fast growth of China’s exports, which jumped 20 percent to US $1.6 trillion in the first three quarters of this year.

In recent years, China has stepped up its efforts to promote economic, social and trade cooperation with countries in the Latin American region under the framework of the Belt and Road Initiative.

As a Chinese e-commerce company, JUMORE, in response to the initiative, has established cooperation relationship with enterprises as well as government and commercial organizations in more than 20 Latin American countries, including Peru. Its cross-border trade platform JumoreGlobal is devoted to facilitating online transactions between Chinese and foreign enterprises through combining its advantages in both e-commerce and international trade.

For agricultural exporters in Peru and also other Latin American countries, who intend to explore the Chinese market, JUMORE could potentially be a reliable partner who has abundant market resources and can provide a full spectrum of supporting services to them for their easy and safe trade with Chinese companies.

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