Peru: Plantain exports up 89.1% in the last five years
Peru's External Trade Federation (ComexPeru) stated that, in the past five years, Peruvian exports o…Peru's External Trade Federation (ComexPeru) stated that, in the past five years, Peruvian exports of Cavendish Valery plantains increased by 89.1%, as they went from US $80 million in 2012 to US $152 million in 2016.
According to Comexperu, the average annual growth rate in that period of time stood at 17.3%.
In 2016, they stated, the most important destination was the Netherlands, where they shipped US $51.5 million, i.e. 8.2% more than in the previous year.
The Netherlands was followed by the US with US $45.8 million (-14.9%), Germany with US $21.2 million (-4.3%) and Belgium with US $13.1 million (62.3%). These four countries accounted for the 86.5% of the market.
According to the Ministry of agriculture and irrigation (Minagri), plantain or bananas account for 3.64% of the country's agricultural production value. In 2016, plantain production recovered slightly (+0.8%) after it had contracted by 3.3% in 2015.
However, only 4% of the cultivated area corresponds to the certified Cavendish variety, and it is located in the departments of Tumbes, Piura and Lambayeque; which shows the great potential of this product that has a growing demand.
In January 2017, Peruvian exports of Cavendish Valery plantains amounted to nearly US $13.9 million, i.e. 1.3% more than in January 2016. This increase was driven by a higher production and higher market prices, which have increased by 20% in the last five years, according to Minagri.