The short- and medium-term outlook for the Peruvian agricultural market remains strong after a number of revisions toour forecasts in this update, which have been both to the upside and downside. We are of the opinion that Peru has a robustagricultural base with good arable land, a conducive climate and a prudent workforce with rising levels of agriculturalcompetitiveness. Rising incomes, growing national levels of consumption and a higher appetite will support a steady uptick inagricultural consumption, and production will increase in major sectors to meet demand. Export crops, such as coffee and cocoa,are hampered by infrastructure constraints and a lack of investment. However, as Peru develops and gains recognition for organicand speciality crops, both these sectors stand to benefit. Peru is also set to benefit from cheaper food imports owing to the lowerprice of grains and weakness in the Argentine peso.
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