Browse Data and Analysis

In 2025, beginning inventories and beef production declined due to the increased pace of slaughter in 2024. Beef consumption remains weak due to inflation, with a shift toward less expensive proteins such as pork.

In 2023, Peru was the 28th-largest market for U.S. agricultural exports, valued at $851 million, making it the 3rd-largest market in South America. The U.S.-Peru Trade Promotion Agreement (PTPA) entered into force in February 2009, and U.S. agricultural exports reached $1 billion for the first time in 2014, peaking at $1.36 billion in 2018. The United States accounts for 14 percent of Peru's agricultural import market share, positioning it as the second-largest supplier to the country.

FAS/Tokyo forecasts cattle inventory expands in 2025 on greater cow beginning stocks and a moderate pace of slaughtering from 2024.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

FAS/Tokyo projects Japan’s beef production in 2024 will be almost flat from 2023 because fewer cows will be culled now that milk production has dropped enough to match demand.

FAS/Tokyo forecasts a drop in 2024 cattle inventory on greater slaughtering of dairy cows, slower calf production, and no live cattle imports in 2023 and 2024.

In April 2023, the Ministry of Agriculture, Forestry, and Fisheries (MAFF) implemented a special measure under the Compound Feed Price Stabilization System to augment feed compensation payments to livestock, poultry, and swine producers.

The U.S.-Japan Trade Agreement (USJTA) entered Year 5 of the agreement implementation on April 1, 2023.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Cattle stocks decline in 2023 as farmers thin dairy herds to counter surplus production capacity. The resulting increase in domestic beef production will lower demand for imports in 2023.

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.

Peru is the third-largest South American market for U.S. consumer-oriented agricultural products. Increasing wealth and lower barriers to entry were facilitated by the implementation of the U.S.-Peru Trade Promotion Agreement (PTPA), resulting in a 423-percent increase in consumer-oriented exports from $65 million in 2009 to $340 million in 2021.