Peru's food exports to South Korea totaled US$140.56 million in the first eight months of 2017, up 99% over the same period in 2011, the Peruvian Exporters Association (Adex) reported.
The guild noted the Andean country had not signed a Free Trade Agreement (FTA) with the Asian country by 2011.
According to Adex head Juan Varilias Velasquez, agricultural and fishery products are well received in the South Korean market.
"South Koreans prioritize their health and appearance, hence the inclusion of Brazil nuts, mangoes, grapes, cacao, bananas, hydro-biological species and aguaymanto —used for cosmetics purposes— in the Peruvian exportable supply to said market," he affirmed.
Adex pointed out that fishing for direct human consumption and agriculture sub-sectors were the most benefited from the FTA.
Fishing
Peru’s fishing sub-sector amounted to US$67.28 million between January and August, a 31.7% rise from the same period in 2011.
Most demanded products included canned and processed giant squids, as well as eels, shell-on prawns and fish fillets, among others (all of them frozen).
Agro-exports
On the other hand, agro-exports reached US$52.65 million in the analyzed period, thus posting a 2,200% increase compared to the figure registered in the first eight months of 2011 (US$2.21 million).
Brazil nuts (US$17.18 million), uncooked or cooked mangoes (US$5.89 million), fresh grapes, cacao beans and bananas stood out in this sense.
Other sub-sectors
Subsectors such as the chemical (US$7.87 million; +115.7%), metal-mechanical (US$150,722; +106.2%), wood (US$606,184; +120.5%), and garment (US$1.723 million; +40.4%) showed good results as well.
It must be noted fishing and agriculture sub-sectors accounted for slightly more than 85% of total non-traditional shipments to South Korea.
(END) MDV/JAA/RMB
Published: 10/11/2017