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Peru boasts a thriving food processing industry that plays a crucial role in its economy. This sector contributes approximately 27 percent to the country's industrial gross domestic product.

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.

The food retail sector in Peru is anticipated to experience 5 percent growth by the conclusion of 2024, attributed to the overall enhancement in the country's economic landscape and targeted strategies devised by both the modern and traditional food channels.

On August 21, 2024, the Ministry of Commerce (MOFCOM) of the People's Republic of China (PRC) announced that it had initiated an anti-subsidy (i.e., countervailing duty or CVD) investigation on imports of certain dairy products originating from the European Union.

EU milk production in 2024 is forecast to fall slightly to 148.9 million metric tons (MMT), from an estimated 149.3 MMT in 2023 as a result of declining cow numbers and lower milk production profitability. With lower milk production, which will only be partially offset by lower expected fluid milk consumption, factory use consumption is also forecast to minimally decrease in 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.

Colombia is the largest South American market for U.S. agricultural products and the seventh-largest market for U.S. food and beverage exports globally. Since the U.S. – Colombia Trade Promotion Agreement (CTPA) was implemented in 2012, U.S. agricultural exports have grown by more than 235 percent to a record $3.7 billion in 2023.

Peru has a robust food processing industry that is an integral part of its economy. The food industry contributes to nearly 27 percent of the country's industrial gross domestic product (GDP). However, the non-primary manufacturing sector, which encompasses food and beverage production, experienced a decline of 8.1 percent in 2023.

The EU adopted new rules for the labeling of organic pet food in the single market. Pet food can now be labeled with the EU organic production logo if 95 percent of its agricultural ingredients are organic.

Peru is an internationally recognized gastronomic hub with opportunities for imported complementary food products. Health restrictions eased during 2021 but the foodservice sector has yet to recover pandemic-related losses. The industry will also...

EU milk production in 2024 is forecast to fall slightly to 149.5 million metric tons (MMT), returning to similar levels of 2022 as a result of declining cow numbers and lower milk production profitability. With stable demand from domestic and export...

Peru´s food retail sector grew 2.7 percent in 2022. Growth was driven by better performance of the modern channel, especially in the development of new store formats and an aggressive discounting campaign to encourage sales.