Peru: Retail Foods
FAS Lima foresees Peru’s demand for imported food and agricultural products to remain good through the medium-term. Improving economic growth in 2016-19, will stimulate demand for U.S.-origin product. We expect 2015 total retail food sales reaching $19.5 billion; some $3.9 billion or about 20 percent will be in supermarket sales. Domestic consumption will benefit in the medium-term from government stimulus measures seeking to boost consumer spending and maintain investor confidence. Due to the U.S.-Peru Trade Promotion Agreement (PTPA), U.S. food products are experiencing import tariff reduction and elimination. U.S. consumer-oriented food exports to Peru in calendar year (CY) 2014 hit a record $240 million, up $29 million or up 116 percent compared to CY 2010 levels; U.S. consumer-oriented exports in CY 2015 (January-October) at $184 million are down however 3.5 percent from last year’s record amount.
