Fynsa
Peru's agricultural export sector closed 2024 with an all-time record of sales of US$ 12,784 million, representing a growth of 22.1 % compared to the previous year. In December alone, the agricultural trade balance reached a surplus of US$ 6,483 million, 50.7 % more than in the same period of 2023. This solid performance consolidates Peru as one of the world's leading fruit exporters, with an outstanding leadership in blueberries, avocados and grapes.
Although a more moderate growth of 5% is anticipated for 2025, the Peruvian agricultural export sector faces key challenges. These include the urgent need for a new Agricultural Promotion Law that encourages investment, fosters labor formalization and provides tools to face the recent changes in the international trade environment, particularly the new tariffs imposed by the Donald Trump administration.
Tariff impact
As of April 5, 2025, the United States applies a base tariff of 10% to all imports, including Peruvian agricultural products, as part of its "Liberation Day" initiative. This measure directly impacts blueberry exports, the country's main agricultural export product, 55% of which were destined for the U.S. market in 2024. It is followed by the Netherlands (21%) and Hong Kong (9%), which together accounted for 85% of the volume exported.
However, the actual impact of the tariff is still under evaluation. It is unclear how the 10% surcharge will be distributed along the value chain. The pressure on prices originates, to a large extent, in the Peruvian market itself, where both the volume available and the time of departure of the product have a significant influence on local prices.
The final impact of the new tariff is not yet fully defined. Since blueberries are not a staple good and their consumption is concentrated in the middle and upper-middle socioeconomic segments, demand is expected to remain relatively stable. In this scenario, it is likely that the additional cost of the 10% tariff will be shared between importers and exporters.
Strategies for the new environment
The Peruvian agro-export sector has demonstrated a remarkable capacity for adaptation, but the current context calls for new strategies focused on market diversification and policies to strengthen its resilience in the face of adverse trade scenarios. According to the Minister of Agrarian Development and Irrigation, Ángel Manero, the United States continues to be the main destination for Peruvian agroexports, followed by Europe. However, the country is seeking to move forward with the signing of a free trade agreement with India and expand its presence in Southeast Asia, which would open up new opportunities and would be key to reducing exposure to geopolitical and commercial risks.
Armando Herrera
General Manager Fynsa Peru
