Peru: South Korea is the opportunity to boost agricultural exports in Asia
South Korea
Peru
Published Mar 22, 2021
Tridge summary
South Korea has become the second most important country in Asia for Peruvian agro-exports and shows great potential to continue growing.
Original content
South Korea is the second most important destination for Peruvian agricultural products on the Asian continent. A market that in 2020 imported US $ 7.353 million in food from the world, with a growth rate of 11% in the last five years. And to which Peru sent shipments for US $ 125 million, thus being its twelfth most relevant supplier, with just 1.7% participation. Peruvian exports to South Korea grew 8% in 2020, but that did not allow to recover the record level reached in 2018, the year in which Peruvian shipments totaled US $ 146 million. The growth opportunity exists, but it is necessary to understand what is exported from Peru and what position it has in each shipment. SHIPMENTS MARKED BY BRAZIL NUT The dynamics of imports of Peruvian products in South Korea was marked by shipments of Brazil nuts, which showed high volatility in the last three years. In 2017, the demand for Brazil nuts in South Korea increased, mainly driven by the pharmaceutical and cosmetic industry. That ...
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