According to Scotiabank, Peruvian grape exports during the October 2014-March 2015 campaign could reach a new high, amounting to nearly USD $600 million (14% more than in the previous year).
"Our forecast assumes there will be a 12% increase in the export volume, which would amount to about 270,000 tons, due to the increase in cultivated areas and the increased productivity of crops," said Erika Manchego, a senior analyst in the Economic Research Department of Scotiabank.
Furthermore, this projection assumes weather conditions will be normal.
"We expect there will be a slight recovery in prices, given that the United States is expected to have a lower production this year as they are replacing their old plantations. However, the American production's trend for the next few years is on the rise," she said.
Peru is the seventh grape exporter worldwide with 5% of total exports in 2013. The country's main markets are the United States (19.7% of total value), Netherlands (15.9%), China (13.6%) and Hong Kong (12.5%).
In the past five years, Peru has climbed nine positions in the ranking of grape exports, outperforming major exporters such as Mexico, India and Spain, Scotiabank said.
According to the UN Food and Agriculture Organization (FAO), Peru is the fifth country with the highest yield per hectare in the production of grapes in the world with 19.8 tons per hectare, behind Taiwan (35.5), Egypt (20.8), Vietnam (20.7) and Iraq (20.6).
Source: Gestion.pe