Peru shapes up as world's pantry

12:45 | Lima, Aug. 25.

The COVID-19 pandemic has marked a new era for the global economy. The recovery has demanded several changes, mainly in the food field, since global consumers require much healthier products —a trend that is growing considerably.

"The world is recovering significantly. The prospects for an improvement in the global economy are revised upwards by the principal multilateral organizations. This year, the global economy will increase 6%," the Director of the Association of Peruvian Exporters' Global Business and Economy Research Center (Cien-Adex) Edgar Vasquez stated.

To get an idea of the impact of the dynamics —he said— the world economy grows at an average rate of 3% in a generally quiet period, according to a report published on Wednesday in the official gazette El Peruano.

"This year, growth will be double (that of the average), led by two driving forces: The United States will experience record growth of 6.4%, while China will grow 9%. This was mainly due to aid packages that are revitalizing the economies of these two countries, thus driving the rest of the world, and, with it, the global economy," the Cien-Adex director explained.

The officer noted that this translates into a rapid recovery of international trade, both at export and import levels.

"This year, international trade will expand 8%. While recovery is spreading broadly, there are sectors that are clearly more dynamic than others at this juncture, one of them is the food sector," he pointed out.

It is precisely in this field that Peru has the chance to develop a food export policy to turn it into the world's pantry.

Results

According to the CIEN-Adex director, global food imports will grow 12% this year and will reach a record level of US$1.715 billion.

"In addition to being significantly important, this is something that will benefit countries such as Peru, which is one of the most important superfood suppliers in the globe," he remarked.

Peru must make the most of markets, particularly at this juncture and —in conjunction with the Central Government, of course— lay the foundation for sustained growth starting 2022, when the global economy will embark on a path of normalization.

(END) DOP/RMB/MVB

Published: 8/25/2021