Peru, the second-largest copper exporter in the world, could become the biggest economic driver by 2050, said the country’s agriculture minister to Reuters, highlighting meat exports to China, tax incentives to increase investments, and large-scale irrigation projects to expand agricultural lands.<\/p>\n\n\n\n
Minister of Agriculture \u00c1ngel Manero stated that in 2024, Peru’s agricultural exports grew by 22%, reaching around $12.5 billion. Manero also noted that the sector is expected to grow an additional $2 billion annually.<\/p>\n\n\n\n
“Our goal is to reach $40 billion in exports by 2040,” Manero said in an interview on Thursday, adding that the country will start exporting beef, pork, and chicken this year.<\/p>\n\n\n\n
“By 2050, we must surpass the mining industry in exports.”<\/p>\n\n\n\n
Manero mentioned that exports of beef and pork to China will begin this year after President Dina Boluarte and Xi Jinping discussed the matter during a state visit in June last year. Peru and China recently signed an agreement that deepens the free trade agreement initially signed in 2009.<\/p>\n\n\n\n
The minister hopes to increase poultry meat exports in the future and expand meat supplies to the U.S. and European markets.<\/p>\n\n\n\n
The United States is currently the largest agro-export market for Peru, followed by Europe, but the country aims to conclude a free trade agreement with India soon and expand its activities in Southeast Asia, Manero added.<\/p>\n\n\n\n
To reach these ambitious goals, large-scale irrigation projects along the coast will add 250,000 hectares of new agricultural lands this year, with the goal of reaching 500,000 hectares by June 2026.<\/p>\n\n\n\n
Manero also noted that recent changes to the forestry law aim to ease land ownership rights and improve productivity on 12 million hectares of deforested land.<\/p>\n\n\n\n
“We want to preserve our 67 million hectares of forest,” Manero said. “But where there was deforestation many years ago, we want to achieve real agricultural and livestock development with high productivity, modern technologies, and without needing to cut more forests.”<\/p>\n\n\n\n
African palm oil plantations could grow to 300,000 hectares from the current 100,000 hectares, as well as strengthen coffee and cocoa plantations in the Amazon regions.<\/p>\n\n\n\n
Manero hopes that the new agricultural law, which reduces the corporate tax rate from 29.5% to 15%, will be approved this year and help increase sector investments to $1 billion by 2025.<\/p>\n","protected":false},"featured_media":4902,"template":"","acf":[],"yoast_head":"\n