Promising Niche Market Opportunities in Peru
July 24, 2019USDBC recently concluded a fact finding mission to Peru. The US-Peru Trade Promotion Agreement of 2009 (TPA) has had a positive impact on market access and trade. US agricultural exports increased from $424 million in 2008 to $1.3 billion in 2018, Currently, the US is the largest agricultural product supplier with 31% market share (Peru Exporter Guide, FAS, March 5, 2019). About two-thirds of US agricultural goods enter the country duty free, including US dry beans. Dry bean imports vary considerably from year-to-year, often due to domestic weather events that affect production. In MY 2017/18, the US exported 4,147 MT of dry beans to Peru, much more than the previous three years. This is due primarily to lower Peruvian dry bean production and increased demand for navy beans for food assistance programs, which drove up US exports.
Total dry bean exports to Peru
The US is a relatively small supplier of beans to Peru and exports vary greatly year-to-year, but the market potential for different types of beans has not been adequately explored. Also, there is growing demand for processed products that are healthful and reflect Peruvian taste preferences, which also could be a good market segment for US beans. We will continue to explore opportunities in this market and identify promotional opportunities that make sense for our industry.
Peruvian dry bean selections