As a second year of bad weather upends a prolonged period of growth, Peru’s agricultural exporters are bracing for tough times. According to Gabriel Amaro, head of agribusiness group AGAP, the El Niño phenomenon means revenue from farm shipments probably will shrink 5% this year and stay flat next year.
That’s a trend breaker in an industry that grew through the depths of the pandemic and when El Niño last struck in 2017. The uninterrupted expansion made Peru the top exporter of grapes and blueberries and among the biggest suppliers of mangoes, asparagus and avocados.
Source: bnnbloomberg.ca