During the last five years, Peruvian agricultural exports have experienced sustained growth at a 10% yearly average rate. This growth was achieved thanks to the implementation of improvements at the production level and to the good reception that the country's fruits and vegetables had in the main world markets. However, the trend observed until last year could change in 2020 due to the pandemic.
In the first quarter of 2020, agricultural exports totaled approximately US $ 1.080 billion, a similar number to the US $ 1.056 billion achieved in the same period of 2019. Even though this result shows a slight 2% increase when the evolution over time is analyzed the deterioration is evident.
In January, agricultural exports totaled US $619 million, i.e. 9% more than in January 2019. In February, exports began to be affected and totaled approximately US $253 million, i.e. 4% less than in February of the previous year. In March exports had their worst fall, as they were 8% lower than in the previous year and only amounted to US $208 million.
The evolution of exports
Until February, agricultural exports totaled 484,814 tons worth US $872 million, i.e. 4% more in volume and 5% more in value when compared to the same period in 2019. This result was mainly driven by a greater supply of mango (12% more than in the previous year) and better grape prices (19% more than in the previous year). It should be noted that both fruits accounted for 67% of the Peruvian agricultural export basket during these months.
In the first weeks of March, shipments totaled 66,643 tons worth US $99 million, which is a volume similar to the ones reached in previous weeks and 5% higher than the volumes obtained in 2019. However, Peruvian exports showed a slight contraction after the WHO announcement (on March 11) about the pandemic and the measures taken by the Peruvian State on March 16 (quarantine and the closure of borders). In the last weeks of the month, agricultural exports totaled just 65,687 tons and US $109 million, i.e. 1% lower than what was sent in the previous weeks and 25% lower than in the same period of 2019. In March it is common for exports to increase week by week, due to the start of the avocado and pomegranate campaigns.
During March, the main exported products and those that were most affected by the pandemic were mango (29% of exports), avocado (13%), bananas (11%), and pomegranate (8%).
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