- #5 import market for U.S. corn in MY 2015/2016.
- Total corn demand is 4.6 MMT, of which 3 MMT is imported.
- Peru currently produces 55 million broilers/month.
- About 70% of yellow corn goes toward chicken feed to supply its 1,000 plus poultry farms.
- Population: 30.7 million
- Population growth: 0.96%
- Urban %: 78.6%
- Urban growth: 1.69%
- GDP: $389.1 billion
- GDP growth: 3.3%
- GDP per capita: $12,200
- The Peruvian economy grew by an average of 5.6% from 2009-13 with a stable exchange rate a nd low inflation, due partly to high international prices for its metals and minerals exports, which account for almost 60% of the country’s total exports. Growth slipped in 2014 and 2015, due to weaker world prices for these resources.
- Dependence on minerals and metals exports and imported foodstuffs makes the economy vulne rable to fluctuations in worl d prices.
Trade and Market Share Issues
- Since the U.S.-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the U.S. has doubled.
- U.S., Peru are currently in 9th year of FTA. U.S. corn will receive duty free TRQ for 797 TMT in 2017. TRQ increases 5% per year until phased out in 2021.
- When Peru implements the recommendations and ruling of the WTO in the price band dispute regarding agricultural commodities may hinder U.S. price competitiveness in country.
- Peru had its presidential election in 2016, with little-to-no challenges to its agricultural structure and export focus.
- Bureaucratic ineffectiveness and corruption are major challenges in Peru.