Peru aims to reach $40 billion in agricultural exports by 2040, bolstered by a 22% growth in 2024. The country will start exporting beef and pork to China while exploring further market opportunities in the U.S. and Europe. Large irrigation projects and favorable tax changes are set to support this growth.
Peru’s Agriculture Minister, Angel Manero, announced the country’s ambition to achieve $40 billion in agricultural exports by 2040. Following a 22% increase in 2024, resulting in approximately $12.5 billion in agricultural sales, the sector aims to grow by an additional $2 billion annually. Plans are underway to begin beef and pork exports to China, alongside anticipated poultry exports aimed at broadening markets, particularly in the U.S. and Europe.
Peru is known as the world’s second-largest copper exporter; however, projections indicate that agriculture may surpass mining as the primary economic driver by 2050. This transformation hinges on several strategic initiatives, including tax incentives designed to attract investment, the development of extensive irrigation projects to significantly increase farmland, and a revised forestry law to support land productivity.
In summary, Peru’s agricultural sector is poised for significant growth, with strategic goals set to elevate exports to $40 billion by 2040. The focus on meat exports to China and the potential expansion into other markets signifies a robust economic pivot from mining to agriculture. Continued support through revised laws and large projects is vital for achieving these ambitious targets.
Original Source: dunyanews.tv
