Data and Analysis

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.

On January 24, 2025, the Philippine Department of Finance announced the issuance of Joint Administrative Order (JAO) No. 001-2025, which provides the implementing guidelines of the pre-border technical verification (PTV) and cross-border electronic invoicing (CEI) of all imported commodities.

Based on the final official harvest data, the Bulgarian corn crop fell to only 1.5 million metric tons (MMT) in marketing year (MY) 2024/25. This is the smallest corn crop since 2012, and was impacted by intense summer heat and drought followed by adverse rainy weather during the harvest.

On December 31, 2024, Korea issued its flexible tariff Adjustment and Tariff Rate Quota list for certain agricultural, forestry and fishery products for calendar year (CY) 2025.