Peru aims for $40 billion in agricultural exports by 2040, with a projected growth of $2 billion annually. The agriculture sector, expected to surpass mining by 2050, will commence meat exports to China this year. Large-scale irrigation projects and favorable tax reforms are anticipated to enhance investment in agriculture.
Peru aims to achieve $40 billion in agricultural exports by 2040, with the country’s agriculture minister, Angel Manero, indicating that farming could surpass mining as the leading economic sector by 2050. Following a 22% increase in agricultural exports in 2024, amounting to approximately $12.5 billion, the sector is projected to grow by an additional $2 billion annually, with expectations of beef, pork, and chicken exports commencing this year.
Minister Manero announced that exports of beef and pork to China will begin this year, following discussions between President Dina Boluarte and Chinese President Xi Jinping during a state visit last June. A recent agreement to deepen the 2009 free trade accord with China aims to promote meat exports, with ambitions to expand exports to the United States and European markets subsequently.
Peru, recognized as the world’s second-largest copper exporter, is strategically focusing on agriculture to bolster its economy. The government plans to implement large-scale irrigation projects along the coast, which could introduce 250,000 hectares of new farmland this year, with objectives to reach 500,000 hectares by mid-2026. Additionally, changes in forestry laws aim to enhance productivity on previously deforested land while preserving existing forests, addressing both economic growth and environmental concerns.
In conclusion, Peru is pursuing an ambitious target of $40 billion in agricultural exports by 2040, with significant investments in irrigation and tax reforms to enhance agricultural productivity. The country’s strategic agreements with China and potential expansions into new markets reflect its commitment to revitalizing the agricultural sector and achieving economic diversification.
Original Source: dunyanews.tv
