Peru’s Agricultural Exports Jump 16.6% in Q1

When global buyers look for consistent growth in agricultural exports, Peru’s first-quarter numbers offer a clear signal: something is accelerating. But what’s really driving the increase? Is it higher prices, bigger volumes—or both? A closer look at Peru’s latest agricultural trade data reveals the real contributors behind a 16.6% export surge.

In the first quarter of 2024, Peru’s agricultural exports totaled $915.6 million, up 16.6% from $785.5 million in the same period last year. That’s an extra $130.1 million in earnings, according to the Peruvian Ministry of Agriculture’s Economic and Statistical Research Office.

What’s Behind the Export Growth?

The rise in agricultural exports came from two main factors: higher prices and greater volumes for key products. Prices increased significantly for asparagus (19.1%), mango (437%), artichoke (14.6%), coffee (8.5%), condensed milk (14.9%), and fresh grapes (2.7%). At the same time, export volumes grew for coffee (73.1%), fresh grapes (25.7%), livestock and poultry products (29.1%), condensed milk (38.6%), and bananas (9.7%). Some products saw volume declines, including mango (-33.2%), asparagus (-9.7%), and artichokes (-3.1%).

Traditional vs. Non-Traditional Agricultural Exports

Traditional agricultural products made up 17.3% of total agricultural exports in Q1, amounting to $158.7 million—a 60.2% year-on-year increase. Coffee dominated this category, representing 91.9% of traditional exports. Coffee export volume surged 73.1%, adding 14,000 metric tons, while export value jumped 87.7%, gaining $68.2 million.

Non-Traditional Exports Show Broad Strength

Non-traditional agricultural exports accounted for 82.7% of the total, reaching $756.9 million, up 10.3% from last year. Notable performers included fresh grapes (29.1%), condensed milk (59.3%), fresh asparagus (13.3%), frozen asparagus (64.7%), livestock and poultry (34.1%), and bananas (17.5%). Other dynamic categories were fresh avocados (135%), vegetable seeds (783.7%), other fresh fruits (321.7%), and malt beer (255.6%).

Top Global Markets for Peruvian Agricultural Goods

Peru exported agricultural products to 123 countries in Q1 2024. The top markets were the United States (22.6% of total exports), the Netherlands (13.4%), Colombia (6.7%), Germany (5.9%), Spain (5.5%), and Ecuador (5.3%). Together, these six destinations accounted for 59.6% of Peru’s total agricultural export revenue.

Frequently Asked Questions

How much did Peru’s agricultural exports grow in Q1 2024?

Peru’s agricultural exports reached $915.6 million in the first quarter of 2024, a 16.6% increase compared to $785.5 million in the same period last year.

Which agricultural product had the highest export volume growth in Q1?

Coffee had the highest export volume growth, rising 73.1% compared to the previous year, adding 14,000 metric tons to total shipments.

What traditional agricultural product contributed most to export value?

Coffee was the dominant traditional agricultural export, making up 91.9% of the traditional sector’s $158.7 million total and seeing an 87.7% rise in export value.

Which non-traditional export showed the most dramatic growth?

Fresh avocados showed the most dramatic growth among non-traditional exports, with a 135% increase in export value in Q1 2024.

Who are Peru’s top agricultural export markets?

The top markets were the United States (22.6%), the Netherlands (13.4%), Colombia (6.7%), Germany (5.9%), Spain (5.5%), and Ecuador (5.3%), which together received 59.6% of Peru’s total agricultural exports.

Did all agricultural products see higher export volumes in Q1?

No. While many products like coffee and fresh grapes saw volume increases, others such as mango (-33.2%), asparagus (-9.7%), and artichokes (-3.1%) experienced declines in export volume.

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