Peruvian Beef Demand Set to Soar
PERU - Peru's beef production and consumption remains tiny compared by other Latin American standards, however a new outlook report shows good growth patterns as the Peruvian economy strengthens.
10 August 2009
1 minute read
BMI has introduced the new Livestock Outlook in its Peru Agribusiness Report for the third quarter of 2009, according to companies and markets.
Peru's beef production is small by Latin American standards. Domestic production of 163,339 tonnes in 2008 was only around 50 per cent of that in Venezuela and less than a fifth of the amount of beef produced in Colombia. Even Andean neighbour Ecuador, which has a population less than half the size of Peru's and a lower GDP per capita, produces more beef.
Consumption is also tiny by beef-loving Latin American standards. In 2008, per capita beef consumption stood at around 6kg. This compares to 13kg in Colombia, 32kg in Paraguay and almost 70kg in Argentina. Despite these low figures, the beef sector has been growing strongly this decade as Peru's economy has boomed.
From 2000 to 2007, beef production rose 25.4 per cent while consumption increased 20.9 per cent. The report predicts growth to slow in 2009 as the economy feels the effect of the world economic slow-down. Beyond this year, however, growth in both consumption and production is expected to continue as Peruvian consumers are able to afford to spend more on food.
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