Peru’s agricultural sector continues to thrive, with the latest reports indicating a remarkable 13.4% growth in October 2024 compared to the same period last year. This marks a significant recovery, driven primarily by the agricultural subsector, as announced by the Ministry of Agrarian Development and Irrigation (MIDAGRI).
This notable increase is the first double-digit growth since September 2021, when the sector rebounded with an 11.5% rise following the economic impacts of the COVID-19 pandemic. According to MIDAGRI, the October growth was largely fueled by a substantial 21.4% increase in agricultural production, complemented by a 1.8% rise in livestock production.
Agricultural Boom
Among the agricultural products that saw impressive increases in production, the dry grain bean (pallar) experienced a staggering 647% growth, driven mainly by a larger harvested area in Lambayeque. Cotton also made a significant leap with a 234% increase in production, particularly in Piura, while mango production surged by 152%, also in Piura. Oregano production, primarily in Tacna, rose by 117%.
Other key products that experienced impressive gains include blueberries, which grew by 94.8% thanks to increased yields in La Libertad and Lambayeque; lemons, with a 55.2% boost, primarily in Piura and Lambayeque; mandarins, up by 12.1%, despite some harvest delays in Lima; and potatoes, which increased by 10.7%, owing to delayed harvests in Arequipa and Huánuco.
This growth reflects not only an increase in production but also the country’s ability to meet the growing domestic and international demand for these high-value crops.
Livestock Growth
On the livestock front, the sector saw a modest 1.8% increase in October compared to the same month in the previous year. This growth can largely be attributed to the higher production of poultry, which increased by 1.4% due to larger supplies in Lima and La Libertad. Turkey production saw a significant jump of 38.1%, particularly in Lima, while milk production grew by 2.1% thanks to higher yields in La Libertad and Arequipa. Pork production also increased by 3.3%, with more animals being slaughtered in Lima and La Libertad.
These figures demonstrate a steady recovery in livestock, further supporting the overall growth of the agricultural sector. Increased production in these areas reflects the growing demand for both domestic consumption and exports.
Year-to-Date Growth
The positive trends in October are not isolated. For the period from January to October 2024, Peru’s agricultural sector saw a cumulative growth of 3.7%, driven by a 5.3% increase in agricultural production and a 1.1% rise in livestock production. Notable contributions to this growth include significant increases in the production of dry grain beans (up by 217% in Lambayeque), quinoa (up by 71.6% in Puno and Ayacucho), blueberries (up by 47.7%, benefiting from expanded planted areas and delayed harvests in La Libertad and Lambayeque), and corn (up by 20.7% in Huancavelica, Apurímac, and Cusco).
Other crops that showed growth include potatoes, which increased by 18.5% due to larger harvested areas in Puno, Apurímac, and Ayacucho; onions, up by 17.1% in Arequipa, La Libertad, and Tacna; alfalfa, up by 8.6% in Puno, Ayacucho, and Moquegua; and rice, up by 7.9% in Piura, Lambayeque, and Huánuco. These products benefited from favorable climatic conditions during the 2022/2023 agricultural season.
The livestock subsector also showed promising results during this period. Poultry production increased by 1.0%, primarily due to higher placements in Lima and San Martín. Pork production rose by 4.5%, particularly in Lima, Ica, and Arequipa, as a result of greater slaughter volumes aimed at human consumption and sausage production. Turkey production saw a remarkable 28.7% increase, especially in Lima and La Libertad, and beef production grew by 1.3%, mainly in Huánuco.
Looking Ahead
MIDAGRI has forecasted that the sector will close the year with an overall growth of 3.8%, further solidifying the importance of agriculture as a driving force in Peru’s economy. This year’s positive performance is a testament to the resilience and adaptability of Peru’s agricultural and livestock industries, which have managed to overcome challenges and capitalize on favorable conditions.
The agricultural sector is not only crucial for domestic food security but also plays an essential role in the country’s export market. As the sector continues to grow, it is expected to remain a significant contributor to Peru’s economic development in the coming years.
In conclusion, October 2024’s record growth in Peru’s agricultural sector highlights the country’s ongoing recovery and growth, driven by the exceptional performance of both the agricultural and livestock subsectors. With a promising forecast for the rest of the year, Peru’s agricultural industry is poised for continued success on the global stage.
