Italian wine is the second most sold in Peru, with a 24% market share

Published Nov 5, 2024

Tridge summary

Marco Fragale, the President of the Italian Chamber of Commerce of Peru, appeared on a Peruvian television program and discussed the dynamic of Italian wine in the Peruvian market. He highlighted that Italian wine holds the second-most popular position, with a 24% market share, following Argentina. The price range for Italian wines in Peru varies greatly, from as little as $12 to a remarkable $30,000 per bottle. Fragale also pointed out the growing trade balance between Peru and Italy, which is currently around $1.6 to $1.7 billion, with an increase in recent years. This trade encompasses significant Peruvian imports such as machinery and chemical products, while exports to Italy include agricultural products like avocados, blueberries, coffee, and asparagus. Over the past two years, Italy has invested approximately $600 million in Peru's infrastructure and renewable energy sectors.

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Original content

Marco Fragale, President of the Italian Chamber of Commerce of Peru, appeared on Economía Para Todos on RPP to comment on the trade of Italian wines in Peru. "Italian wine is the second most sold in Peru. We have 24% of the market share, followed by Argentina. Among the other important wine producers are Spain, France and Chile. We achieved this position last year and we hope to improve the position," he said at the beginning. The specialist commented that, in the last edition of the Expo Italia Vino, more than $100,000 of wine was sold in two days, but this would be a small part of the 24% distribution. Regarding the price of bottles of Italian wine, these can reach a value of $30,000; However, in the Peruvian market, bottles can be found for $12 to $80. Marco Fragale explains that the trade balance between Peru and Italy is $1.6 billion to $1.7 billion and is very stable, both in imports and exports. This figure has increased in recent years, "and we hope to reach $1.7 billion ...

Source: Rpp